Gresham Technologies PLC USD 1.9m new customer win in investment management (0790K)
19 December 2022 - 6:00PM
UK Regulatory
TIDMGHT
RNS Number : 0790K
Gresham Technologies PLC
19 December 2022
RNS
19 December 2022
Gresham Technologies plc
Strategic USD 1.9m 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 new key customer win in the investment management
industry.
On 17 December 2022, one of world's largest asset managers
signed a contract for Control and Data Services in the cloud to
replace a legacy reconciliation product and to streamline its data
aggregation processes. The US-based firm, consistently ranked in
the top five global asset managers by AUM, will partner with
Gresham to consolidate all market-facing reconciliations and data
controls for their institutional investment management business
onto a modern cloud platform.
The initial contract has a three-year term with total
subscription fees of USD 1.5m and additional fees for professional
services. Initial forward looking ARR is USD 0.1m, rising to USD
0.5m in the second quarter of FY23 upon delivery of certain
contractual obligations.
Ian Manocha, CEO commented
"We are delighted to be welcoming a new key customer in the
investment management industry. For our initial project we are
partnering to replace a legacy transaction lifecycle management
solution and a third-party data collection service with an
end-to-end solution delivered in the cloud. Our goal is to improve
the management of risk, lower operating costs, and provide a more
agile digital platform for the future.
The combination of Clareti Control and the Data offering
acquired through Electra provided clear competitive differentiation
and our deep industry skills, flexible service offerings, and
proven experience partnering with the world's largest financial
institutions were all important factors in the decision to select
Gresham."
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 / Hannah Campbell
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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