Gresham Technologies Gets $1.9 Mln Contract From New Client – MarketWatch
By Elena Vardon
Gresham Technologies PLC said Monday that it has won a contract worth $1.9 million from a new customer, a global asset manager.
The software and services company said the undisclosed tier-one U.S.-based asset manager has chosen to use its control and data services in the cloud to replace a legacy reconciliation product and streamline its data aggregation processes.
The contract has a three-year term with $1.5 million in total subscription fees and additional fees for professional services, Gresham said.
Initial forward-looking annual recurring revenue is $0.1 million, which will rise to $0.5 million in the second quarter of fiscal 2023 upon delivery of some contractual obligations.
Write to Elena Vardon at elena.vardon@wsj.com
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