REG - Gresham Technologies - USD1.6m contract win with Tier 1 asset manager

Gresham TechnologiesAnnouncement

17/08/2023 07:00

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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® 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

 Gresham Technologies plc                               +44 (0) 207 653 0200
 Ian Manocha / Tom Mullan

 Singer Capital Markets (Financial Adviser and Broker)  +44 (0) 207 496 3000
 Shaun Dobson / Tom Salvesen / Jen Boorer

 Alma PR                                                +44 (0) 203 405 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.

 

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