USD1.6m contract win with Tier 1 asset manager

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	[phone]
Ian Manocha / Tom Mullan
Singer Capital Markets (Financial Adviser and Broker)	[phone]
Shaun Dobson / Tom Salvesen / Jen Boorer
Alma PR	[phone]
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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