6th Apr 2016 06:40
LONDON (Alliance News) - Digital media and technology company Milestone Group PLC said Wednesday its Black Cactus Holdings venture has won two contracts worth GBP500,000.
The contracts have been won with two undisclosed London-based finance and investment companies, and are to provide cloud-based virtual banking.
The two contracts will be launched in the second quarter of 2016, and are expected to generate revenue of over GBP500,000 in the first full year of operation for the Black Cactus venture, 40% of which would accrue to Milestone. Black Cactus is a joint venture with Nexstar, a subsidiary of Milestone.
"This is an important milestone for the group as we start to see the exciting potential of the Nexstar Joint Venture. We are encouraged by the interest that has been shown in the suite of products and expect that this announcement is the first of a number of revenue enhancing deals to be announced," said Chief Executive Officer Deborah White in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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