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(Sharecast News) - Acuity RM Group said on Monday that it has secured a multi-year contract renewal and upgrade with a North American bank, lifting the value of the agreement by 280% compared with the original contract and increasing the group's contracted future revenues to more than 2m.
The AIM-traded governance, risk and compliance software provider said the customer renewed its use of Acuity's 'Stream' platform for a further three years, with a total contract value in excess of 160,000.
It said the renewal followed a significant expansion in the bank's use of the software since its initial implementation in 2023.
Acuity said the upgraded agreement reflected increased adoption of its platform and strengthened the visibility of its forward revenues.
The company said it supplies Stream to organisations operating in the GRC market, alongside related consultancy services.
"We're thrilled to deepen and renew our relationship with this bank," said chief executive David Rajakovich.
"Their decision to extend for three years at an increased investment reflects the measurable value our platform has delivered to their business, and we're committed to supporting their continued growth."
At 1156 GMT, shares in Acuity RM Group were up 5% at 1.05p.
Reporting by Josh White for Sharecast.com.
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