Rosslyn Data scores two 'large' information management contracts

Technology firm Rosslyn Data has secured two "large" contracts with a minimum combined value of £900,000.

Rosslyn said on Wednesday that the contracts were for the delivery of Knowledge Capture, which is part of its information management suite of products.

The AIM-listed group's first client win was with an unnamed UK-headquartered insurance company, which will be implementing Rosslyn's technology to enable its clients to access their documentation more easily through a self-service application.

The second win is an expansion of an existing knowledge capture contract with the UK subsidiary of an unnamed multinational data solutions business.

Rosslyn said the contract wins added £200,000 to the company's annual recurring revenue.

Chief executive Roger Bullen said: "These wins demonstrate again our ability to secure significant contracts with large clients who have a variety of needs relating to managing structured and unstructured data continues to be effective.

"Our focus remains on growing recurring revenues capable of delivering strong margins."

As of 0820 GMT, Rosslyn Data shares were flat on 4.70p.