Beeks Financial Cloud Group PLC (LON:BKS), a cloud computing and connectivity provider for the financial markets, today announced the signing of two multi-year Private Cloud contracts with global Asset Management firms. The contracts, worth approximately $2 million in aggregate over three years, were secured via a partner for deployments across US, APAC and EMEA.

The contracts demonstrate the applicability of the Beeks Private Cloud offering across financial services, as the sector increasingly looks to cloud computing to increase performance and facilitate the rapid roll out of new services. The contracts help to further underpin the Group’s FY23 expectations.

Gordon McArthur, CEO of Beeks Financial Cloud commented:

“We continue to see positive sales momentum across our range of cloud computing offerings and are delighted that our partnerships go from strength to strength, supporting our direct sales activities. A substantial pipeline continues to build across our Private Cloud, Proximity Cloud and Exchange Cloud offerings, and we are confident in our ability to further increase our market share of the growing cloud computing market.”

Earlier this year, Beeks announced the signing of a multi-year Private Cloud contract. The contract, worth £4.4 million over five years, is for a new European Tier 1 client, and was secured via a partner.