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(Sharecast News) - Cirata has struck a multi-year contract with IBM worth nearly $7m, the AIM-listed tech firm announced on Monday, sending the shares higher.
In brief statement, Cirata said the record three-year, $6.7m data integration software contract with the US tech giant was for an unnamed financial services customer.
The big data specialist continued: "This engagement will support the customer while further strengthening Cirata's position in the financial services vertical and its relationship with IBM.
"The growth contract represents the largest contract with IBM in Cirata's history."
The contract has been agreed under IBM's existing original equipment manufacturer agreement for its Big Replicate platform.
Big Replicate, which is powered by Cirata's Data Migrator software, enables accessible data across on-premises or hybrid cloud environments.
As at 1100 GMT, the shares had put on 8% at 20.8p.
Sheffield-head quartered Cirata changed its name from WANdisco in 2023, as it sought to draw a line under a fraud scandal which had caused revenues and bookings to be massively overstated.
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