StockMarketWire.com - Gresham Technologies won a contract with Cognizant to support the the bank's digital transformation efforts.

Gresham's 'Clareti' platform would replace processing currently carried out in-house via legacy vendor technology, as well as deliver a 'faster, more flexible and lower cost approach to addressing new data integrity and control use cases across the bank's global operations,' the company said.

Under the contract, the total software fees chargeable were £5m over the 5-year term, of which approximately £0.9m was expected to be recognised in 2019.

A total of £3m was payable in advance on account of the first three years of the contract, representing the minimum committed term, the company said.


At 8:32am: [LON:GHT] Gresham Technologies PLC share price was +3p at 88.5p



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