Beeks Financial Cloud Group Plc, the Glasgow-based connectivity provider for financial markets, announced the signing of a £2.5 million contract extension over three years “with an existing Tier 1 customer.”

The contract is for the provision of private cloud services into an additional geography.

This follows the announcement last week of a $2.2 million contract over four years for its recently launched Proximity Cloud offering with a major foreign exchange broker, bringing the total contract value of deals signed in the current quarter to over $6 million.

Beeks Financial Cloud CEO Gordon McArthur said: “We continue to secure notable contracts with some of the world’s largest players in the financial services industry, demonstrating our growing reputation and the quality of our offerings.

“This latest contract contributes towards underpinning our FY23 expectations.

“With growing levels of committed future revenues and a record pipeline, we are confident in continued growth.”