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KRM22 surges as it gets brokerage contract over the line

The unnamed customer will take the company's 'At Trade' and 'Post Trade' market risk modules, in addition to the 'Market Surveillance' module

KRM22 PLC -

KRM22 PLC (LON:KRM), the technology and software investment company, has landed a major customer contract for a suite of its risk management products.

The company had said on July 21 that it was close to a contract agreement with a brokerage firm and it has now got the contract, worth £1.2mln over four years, over the line.

The unnamed customer will take the company's 'At Trade' and 'Post Trade' market risk modules, in addition to the 'Market Surveillance' module. 

The contract win increases the group's annualised recurring revenue (ARR) by £300,000. The group's undisputed ARR currently stands at £4.3mln KRM22 also revealed in its July 21 update that it is negotiations with one customer to find a commercial resolution to a disputed £300,000 in ARR.

'This is an important contract for us and the customer. It demonstrates the value of the Global Risk Platform integration of our offerings to help reduce cost and complexity for customers,” Keith Todd, the executive chairman and chief executive officer of KRM22 said in a statement.

“The broker is able to have access to leading-edge tools from one portal helping to cost-effectively manage the growth in its business.,” he added.

Shares in KRM22 were up 15% at 34.5p in early deals.

Quick facts: KRM22 PLC

Price: 36.5 GBX

AIM:KRM
Market: AIM
Market Cap: £9.75 m
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