Gresham Technologies secures new Clareti contract win

Software and services firm Gresham Technologies has secured a new contract with an unnamed alternative investment management firm for the enterprise deployment of its Clareti Transaction Control software.

Gresham said the new contract, with its total expected licence value of $1.0m over three years, combined with strong trading in the second half, now meant that it had full contracted visibility of 2019 forecast revenues

As a result, the AIM-listed group now expects that adjusted underlying earnings will be "materially higher" than current consensus forecasts.

Cash performance was also expected to be ahead of expectations.

Chief executive Ian Manocha said: "This contract win is another powerful customer endorsement of our Clareti technology and highlights the potential for our data integrity and control solutions to displace legacy vendors and establish a leadership position in capital markets.

"As we close out a strong FY2019, we are preparing ourselves for FY2020 and will continue to invest in sales, marketing and customer success to capitalise on the opportunity ahead."

As of 0950 GMT, Gresham shares had shot up 13.11% to 119.90p.