Beeks Financial Cloud Group, the Scotland-based cloud computing and connectivity provider for financial markets, has signed a three-year contract with an investment manager worth $1.3 million.

The contract, which has an option to extend for a further two years, will be deployed in London and New York, with the potential for significant expansion.

This contract follows previously announced deals worth $4m which provided a strong start to the year and the Renfrew-based company continues to make progress on the conversion of its significant pipeline.

Gordon McArthur, CEO at Beeks, commented: “We continue to attract high profile financial organisations and in turn increase our presence in the sector.

“Following a strong start to the year, our high levels of contracted, recurring revenue provide confidence moving forwards.

“We remain focused on converting the growing pipeline of opportunities across each of our product offerings and delivering growth acceleration in FY24 and beyond.”