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:
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Beeks Financial Cloud Group plc
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Gordon McArthur, CEO
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via Alma
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Fraser McDonald, CFO
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Canaccord Genuity
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+44 (0)20 7523 8000
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Adam James / Alex Orr
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Alma Strategic Communications
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+44(0)20 3405 0205
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Caroline Forde / Joe
Pederzolli
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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