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Pin to quick picksArcontech Group Regulatory News (ARC)

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Increased client uptake of Excelerator

4 Feb 2019 07:00

RNS Number : 8898O
Arcontech Group PLC
04 February 2019
 

ARCONTECH GROUP PLC

 

("Arcontech", the "Company" or the "Group")

 

Increased client uptake of Excelerator

 

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to announce a noteworthy increase in users of Excelerator, its real-time market data Excel Add-in, at one of its clients, a leading US Investment bank.

 

Under a new multi-year agreement reached in 2018, the latest user count in January 2019 shows the Excelerator user base to have grown by just over 100% since the end of 2018. In addition, users of Arcontech's desktop solution software at the same client have increased to 40.

 

Whilst the agreement has some flexibility to adjust Excelerator user numbers during the term of the contract, maintaining the current user base will result in an annualised increase in revenues of approximately £200,000 per annum, underpinning the Board's expected financial performance for the Company for the financial year ending 30 June 2019.

 

 

Enquiries:

 

Arcontech Group plc

020 7256 2300

Richard Last, Chairman and Non-Executive Director

Matthew Jeffs, Chief Executive

finnCap Ltd (Nomad & Broker)

020 7220 0500

Carl Holmes/Simon Hicks - Corporate Finance

Camille Gochez - ECM

To access more information on the Group please visit: www.arcontech.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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