Gresham Technologies PLC USD1.6m contract win with Tier 1 asset manager (6231J)
August 17 2023 - 2:00AM
UK Regulatory
TIDMGHT
RNS Number : 6231J
Gresham Technologies PLC
17 August 2023
RNS
17 August 2023
Gresham Technologies plc
Strategic USD 1.6m contract win with Tier 1 global asset
manager
Gresham Technologies plc (LSE: "GHT", "Gresham", "Group",
"Company"), the leading software and services company that
specialises in providing solutions for data integrity and control,
banking integration, payments and cash management, is pleased to
announce a strategic contract win in the asset management
industry.
One of world's largest asset managers has selected Gresham's
cloud-based Clareti Control to ensure the integrity of its
accounting books and records (ABOR) and its investment books and
records (IBOR) as it upgrades to a next generation set of
solutions. The proven ability of Clareti Control to deliver complex
matching at scale in the cloud across BNY Mellon's Eagle platform
and Aladdin(R) by Blackrock was critical to the firm's
decision.
On 16 August 2023, the firm, a long-standing customer of Electra
which was acquired by Gresham in June 2021, signed a subscription
contract with total incremental ARR of USD 0.5m committed for an
initial three-year term, with additional one-off fees expected for
associated professional services of USD 0.2m. In addition to this,
contracts for further additional subscriptions carrying a total ARR
of USD 0.1m are expected to be signed with this customer
imminently. This further highlights the improving momentum in the
financial services sector and underpins our continued investment in
our growth strategy.
Ian Manocha, CEO commented:
"We are delighted to be extending our successful partnership
with this key customer in the asset management industry. Gresham
was selected based on the power of our matching technology, which
is proven at massive scale, our functionally rich exception
management capabilities, our cloud and managed service offerings,
and our experience of successfully partnering with the largest
financial institutions in the world. Gresham's selection highlights
the value placed in our offering and furthers our goal to improve
the management of risk, lower operating costs, and provide more
agile solutions for the future to global financial
institutions."
Enquiries
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha / Tom Mullan
Singer Capital Markets (Financial Adviser and +44 (0) 207 496
Broker) 3000
Shaun Dobson / Tom Salvesen / Jen Boorer
+44 (0) 203 405
Alma PR 0205
Josh Royston / Hilary Buchanan / Matthew Young
Inside information
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Note to editors
Gresham Technologies plc is a leading software and services
company that specialises in providing real-time solutions for data
integrity and control, banking integration, payments and cash
management. Listed on the main market of the London Stock Exchange
(GHT.L) and headquartered in the City of London, its customers
include some of the world's largest financial institutions and
corporates, all of whom are served locally from offices located in
the UK, Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform is a highly
flexible and scalable platform, available on-site or in the cloud,
designed to address today's most challenging financial control,
risk management, data governance and regulatory compliance
problems. Learn more at www.greshamtech.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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTGUGDIIBBDGXR
(END) Dow Jones Newswires
August 17, 2023 02:00 ET (06:00 GMT)
Gresham Technologies (AQSE:GHT.GB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gresham Technologies (AQSE:GHT.GB)
Historical Stock Chart
From Apr 2023 to Apr 2024