Rosslyn signs two new contracts worth £1m

7th Nov 2022 11:18

(Sharecast News) - Cloud-based enterprise data technology leader Rosslyn announced the signing of two multi-year contracts with new blue-chip customers on Monday, worth about £1m in total over five years.

The AIM-traded firm said the new, unnamed clients included a "multinational aerospace engineering company" based in the United States, and a global automotive car rental company.

It said both deals were secured through existing partners, which the board said underscored the value of its partner-led go-to-market approach.

One contract was via a strategic systems integrator, and one was via a business process outsourcing partner.

"We're pleased to have won these new contracts, which expand our blue-chip customer base and which were all secured through our partner network," said chief executive officer Paul Watts.

"During the first six months of our 2023 financial year, we have signed a total of five deals, which represents a strong increase in momentum.

"With a good pipeline for the rest of the year, and combined with our recent divestments of Langdon Systems and Integritie that will significantly reduce our cash burn, we look to the future with confidence."

At 1109 GMT, shares in Rosslyn Data Technologies were up 7.06% at 0.91p.

Reporting by Josh White for Sharecast.com.