1st Apr 2009 07:00
Gresham Computing plc("Gresham" or "the Company")
Major New Contract - Landmark Win
The Board of Gresham is delighted to announce that the Company has entered into a new contract with a global banking group (the "Bank") for the provision of software, services and support in respect of its cash management, payment gateway and cash reporting capabilities. The contract has been constructed to enable the Bank to build significant annuity revenues over time by delivering added value services to their Tier 1 customer base in key market sectors. The Bank will use their own range of leading core banking solutions, enhanced by Gresham's capabilities, products and services, to deliver real-time, automated, integrated global solutions. Gresham is expected to be an integral part of the Bank's team, working closely with them to secure new revenues. The Bank and Gresham are working together to deliver solutions to the Bank's core customers, initially focused on Europe, the Middle East and Africa. Gresham's success, measured in revenue streams, is closely tied to those of the Bank. The Board is confident that the contract will result in significant new revenue streams and significantly enhanced future prospects for the Group. Andrew Walton Green, CEO of Gresham, commented: "On behalf of myself and the outstanding team of people we have at Gresham, we are delighted to have been awarded this significant contract for our real-time banking solutions. This is a strategic deal for Gresham and brings together many aspects of Gresham's technology and know-how in the cash management and payments arena. It represents the culmination of our investment and focus in these core areas and I expect that there will be a string of successes which follow this landmark deal."For further information, please contact: Gresham Computing plc +44 (0)20 7653 0200 Andrew Walton-Green KBC Peel Hunt +44 (0) 20 7418 8900 Oliver Scott Daniel Harris
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