(Alliance News) - Shares rose in CloudCoCo Group PLC on Monday after it announced the winning of a multi-year contract with a new, unnamed customer in the digital services sector.
Shares in the London-based IT and communications services provider were 16% higher at 1.98 pence on Monday in London.
The contract has a value of GBP3 million over a three-year period, and is the largest managed services contract signed by the company since its formation in 2018. Under the contract, CloudCoCo will provide the customer with a high availability hosted cloud platform service.
"It has been a busy few months from an M&A perspective, so I'm delighted to be able to follow that activity with a new business win of this magnitude. We look forward to working with our new customer to take their IT infrastructure to the next level," said Chief Executive Officer Mark Halpin.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Cloudcoco (CLCO)