Beeks Financial Cloud secures further extension to JSE Colo 2.0 partnership

Cloud computing and connectivity provider Beeks Financial Cloud said on Tuesday that it had secured a further extension of its JSE Colo 2.0 partnership with IPC into a second data centre location.

Beeks Financial Cloud said the Johannesburg Stock Exchange had signed a "significant contract extension" for the provision of Beeks Exchange Cloud, further supporting the firm's confidence in meeting financial expectations.

The AIM-listed group stated the service will also be available at the JSE's Teraco data centre, specifically to meet the needs of large banks' regulatory requirements for dual location disaster recovery. The Contract follows the successful launch of JSE Colo 2.0 in September 2023, and a significant contract extension in March 2024 to meet stronger-than-anticipated customer demand.

Chief executive Gordon McArthur said: "We are delighted to announce this further expansion with the JSE to meet the growing demand for the Colo 2.0 service from the JSE's customers. Exchange Cloud continues to be a unique offering in the market, and the success of the solution at the JSE is supporting our discussions with other global exchanges, underpinning our confidence in continued momentum."

As of 1030 BST, Beeks Financial shares were up 6.44% at 276.75p.

Reporting by Iain Gilbert at Sharecast.com