Redstone's undisclosed client extends contract

Managed services provider Redstone said an existing client has extended the contract for a further four years for an estimated value of up to £10m. The company will provide the customer, whose identity was not revealed due to competitive reasons, managed services, including the use of its own proprietary software for the customer's critical IT infrastructure.Last week, Redstone had bagged a new business contract with another major international bank to install structured cabling across multiple floors and infrastructure solutions across two locations for a total contract value of £1.5m.Shares of the company climbed 7.1% to 1.37p in midday trading. AR