Acuity RM wins three-year contract with UK government

13th May 2024 11:06

(Sharecast News) - Software group Acuity RM has won a three-year contract worth more than £500,000, all of which will be payable in the current financial year.

Acuity RM said on Monday that the contract was made up of a renewal and an upsell of its STREAM software platform for GRC together with associated services to "a major organisation" within the British Government.

The AIM-listed group added that this was the third order of similar size received from this organisation in the past 12 months.

Chairman Angus Forrest said: "This new contract validates our increasing presence in the customer's infrastructure and importance to the customer. Further, it provides credibility to other potential customers as Acuity expands in the UK and North America. Acuity is growing strongly because of closer links with customers leading to more upsell, winning larger orders and growing the customer base."

As of 1100 BST, Acuity RM shares had surged 17.6% to 4.41p.

Reporting by Iain Gilbert at Sharecast.com