(Alliance News) - Drumz PLC on Monday said its 25% held investee company Acuity Risk Management Ltd has won two major contracts for its STREAM software platform.
The Beaconsfield, England-based investor in the software sector said Acuity won a contract with a North American bank, which will adopt STREAM to improve its enterprise risk management. Drumz said this could be replicated by other banks and financial institutions.
STREAM Integrated Risk Manager is a software platform allowing clients to manager their cyber, IT and operational risk. Acuity is a London-based risk management services provider.
Acuity also won a contract with a Europe-based cloud and cybersecurity solutions and services provider that operates in Europe and in North and South America, Drumz said.
Drumz noted that the combined initial order value for the two contracts is around GBP300,000 over a period of three years.
Drumz Chief Executive Officer Angus Forrest said: "These contract and partners wins are evidence that the strategic changes to the distribution channels and new management appointments which have been made are working and setting Acuity up for faster and transformational growth over the short to medium term."
"These two new exciting customer wins are testament to performance improvements across all sales and marketing operations which are now starting to bear fruit," Acuity CEO Simon Marvell commented.
Drumz shares were up 5.3% trading at 0.87 pence per share on Monday morning in London.
By Harvey Dorset, Alliance News reporter
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