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(Sharecast News) - Beeks Financial Cloud reported further momentum for its Proximity Cloud platform on Monday, after securing two new multi-year agreements worth a combined £3.9m.
The AIM-traded cloud computing and connectivity provider said revenue from both contracts would begin in the second half of its 2026 financial year, reinforcing the board's expectations for the period.
It said it had signed a five-year deal valued at about £1.9m with a major South African bank, which was already a significant user of the Johannesburg Stock Exchange's Colo 2.0 service delivered through Beeks' Exchange Cloud.
The new agreement would see the bank deploy Proximity Cloud in two London locations, with onboarding underway.
Beeks said the win highlighted the cross-selling potential of its Exchange Cloud installations, which expose its infrastructure to multiple exchange users.
Separately, the company said it had secured an additional £2m extension to its existing contract with a large foreign exchange broker, bringing the total value of that five-year agreement to £6m.
The extension followed an earlier expansion disclosed by Beeks on 3 December.
"We continue to see strong sales momentum as financial services organisations accelerate their cloud strategies," said chief executive Gordon McArthur.
"The South African bank win demonstrates the major upsell potential of our Exchange Cloud engagements, providing financial institutions with the confidence to adopt our scalable and secure cloud environments in additional locations.
"Meanwhile, the rate at which we have expanded with the FX broker and the considerable total contract value, demonstrates the size of expansion opportunity when dealing with major organisations."
He added that the group "continue[s] to look to the future with confidence, supported by a strong pipeline across each of our offerings."
At 1045 GMT, shares in Beeks Financial Cloud Group were up 2.38% at 235.48p.
Reporting by Josh White for Sharecast.com.
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