Beeks Financial Cloud Group PLC Scottish Enterprise Grant
January 07 2020 - 1:00AM
RNS Non-Regulatory
TIDMBKS
Beeks Financial Cloud Group PLC
07 January 2020
RNS Reach
Beeks Financial Cloud Group plc
("Beeks" or the "Company")
Cloud computing firm expands competitive positioning through
GBP2m grant from Scottish Enterprise
7 January 2020 - Beeks Financial Cloud Group Plc (AIM: BKS), the
Glasgow-based leading cloud computing and connectivity provider for
financial markets, is pleased to announce it has received a
Scottish Enterprise R&D grant to invest in its Network
Automation project. The funding will allow for acceleration of the
project, which will facilitate growth and expansion at the
Company's Glasgow headquarters and enable Beeks to broaden its
product offering, in particular to the Tier 1 financial services
market. The grant is payable in instalments over the next three
years and is expected to contribute up to approximately GBP2.0
million based on an overall project spend of up to GBP4.2
million.
Customer self-service and automation is at the heart of Beeks'
strategic objectives and is a key differentiator for Beeks in the
financial services cloud computing sector. This cross-system
project aims to fully automate Beeks' network infrastructure
deployment, enhancing Beeks' ability to capitalise on the growing
adoption of cloud computing infrastructure by Tier 1 financial
institutions.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
"We are extremely grateful for Scottish Enterprise in their
support for our strategic Network Automation initiative. The
project will further strengthen our position as a leading provider
of cloud computing services to financial markets, increasing the
differentiation of our offering and helping to accelerate our
future growth. We are proud to service our international customer
base from our Glasgow headquarters and are delighted to be able to
continue to expand our team in Scotland."
Linda Hanna, Managing Director, Scottish Economic Development at
Scottish Enterprise, said:
"We're delighted to support Beeks' ambitious expansion plans.
The Company has recognised the opportunities presented by the
technological revolution, building an innovative, Scotland-based
business whose ingenuity is recognised internationally.
"Beeks' Network Automation project will help the Company sharpen
its competitive edge and accelerate its global growth strategy,
strengthening the Glasgow area's burgeoning reputation as a major
fintech subcluster."
For further information, please contact:
Beeks Financial Cloud Group plc
Gordon McArthur, CEO via Alma PR
Fraser McDonald, CFO
Alma PR +44(0)20 3405 0212
Caroline Forde / Josh Royston /
Helena Bogle
ABOUT BEEKS FINANCIAL CLOUD
Beeks Financial Cloud is a UK-based low-latency
Infrastructure-as-a-Service (IaaS) provider for automated trading
in Forex, Futures, Equities, Fixed income and cryptocurrency
financial products. With 12 data centres globally and low-latency
connectivity between sites, the Beeks Financial Cloud focuses on
reducing barriers to entry and time to market for institutional
clients. For more information, visit:
www.beeksfinancialcloud.com.
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END
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