REG - Beeks Fin Cloud Grp - Exchange Cloud Contract Extension

Beeks Financial CloudAnnouncement

14/03/2024 07:00

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RNS Number : 7734G  Beeks Financial Cloud Group PLC  14 March 2024

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Exchange Cloud Contract Extension

Significant extension of JSE Exchange Cloud contract

14 March 2024 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing
and connectivity provider for financial markets, is pleased to announce that
the Johannesburg Stock Exchange (JSE) has signed a significant contract
extension for the provision of Beeks' Exchange Cloud.

Following the successful launch of the JSE Colo 2.0 in September 2023, the
exchange has signed a significant contract extension to meet stronger than
anticipated customer demand for the solution and a significant pipeline. As a
result, revenue expectations from the initial term of the contract have
materially increased, further supporting the recently upwards revised Board
expectations for FY25.

JSE is also exploring a second site from Beeks, for back up and disaster
recovery capability and potential use of Proximity Cloud, highlighting the
land and expand capability within Tier 1 clients.

Colo 2.0 is an advanced managed infrastructure as a service based on the Beeks
Exchange Cloud offering, in partnership with IPC. Colo 2.0 provides JSE
customers with leading edge innovative hosting and connectivity solutions,
accessing on-demand private cloud computing and low latency analytics.

Gordon McArthur, CEO at Beeks, commented: "We are delighted with the response
from JSE customers to the Colo 2.0 offering and look forward to expanding our
engagement with JSE to meet their customers' demand for on-demand cloud
computing. The pipeline with other global exchanges continues to progress and
grow and we remain confident in continued momentum."

For further information please contact:

 Beeks Financial Cloud Group plc
 Gordon McArthur, CEO             via Alma
 Fraser McDonald, CFO

 Canaccord Genuity                +44 (0)20 7523 8000
 Adam James / Alex Orr

 Alma Strategic Communications    +44(0)20 3405 0205
 Caroline Forde / Joe Pederzolli

 

About Beeks:

Cloud computing is crucial to Capital Markets and finance.

Beeks Group is a leading managed cloud provider exclusively within this
fast-moving sector. Our Infrastructure-as-a-Service model is optimised for
low-latency private cloud compute, connectivity and analytics, providing the
flexibility to deploy and connect to exchanges, trading venues and public
cloud for a true hybrid cloud experience.

ISO 27001 certified, we provide world-class security aligned to global
security requirements.

Founded in 2011, Beeks Group is listed on the London Stock Exchange (LSE: BKS)
and has enjoyed continued growth each year. Beeks Group now employs over 100
team members across the globe with the majority based at our Renfrew HQ.

Find out more at beeksgroup.com

 

 

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