Rosslyn Data Technologies PLC (AIM:RDT) jumped over 50% on Wednesday morning after announcing it had won a contract with one of the world’s largest technology companies.
The initial three-year deal will be worth a minimum of £2 million, the AIM-listed analytics firm said on Wednesday, with £700,000 of this being realised in its current financial year.
Rosslyn said the contract was with a top-10 Fortune 100 global household name in its central procurement division and left scope for expansion into 10 other departments.
Chief executive Paul Watts commented: “To be appointed by an organisation of this magnitude is a huge endorsement of our offering. It is also an important validation of our AI strategy.”
Rosslyn also said revenue was expected to come in at £2.9 million for the year to April in a separate update, alongside a narrower-than-expected loss of £3.3 million.
Shares climbed 51.4% to 14p.