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Parseq launches data centre, sees new revenue from Q3 2011

Published: 09:00 09 Jun 2011 BST

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Parseq PLC (LON:PSQ), specialised in mobile and online banking software and outsourcing services, said it is is launching a new hosting and managed services proposition to commercialise its data centre facility.

The commercialisation of the data centre creates a new revenue stream for Parseq and further strengthens its recurring revenues. It expects to see the benefits from the launch coming through by the end of the third quarter of this year, with the migration of existing clients also delivering cost synergies from 2012 onwards.

Parseq has signed a partnership agreement with a data centre specialist in order to drive new customer sales and has already secured the first new client.

The Tier 3 data centre, which currently comprises over 10,000 square feet and can accommodate up to 320 racks, is located on a six acre freehold site at the group's offices in Hellaby, Rotherham. 

Chief executive Rami Cassis said: "Our state-of-the-art data centre represents a valuable asset for the group following the completion of the upgrade programme and partnership agreement.  This is an important milestone which will provide significant further revenue and EBIT growth.”

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