SysGroup inks £1m deal with unnamed financial institution

IT services and cloud hosting provider SysGroup has scored a £1m contract with an unnamed financial institution via its recently acquired Certus IT division.

SysGroup signed the five-year managed services contract with the "well-established financial services institution" on Wednesday, with the contract set to kick off in April.

The AIM-listed group said the contract reflected its strategy of focusing on recurring managed services in order to provide it with higher quality earnings through long-term relationships.

Chief executive Adam Binks said: "This is really positive news so soon since the acquisition, validating the capability and reach of Certus and further underpinning the rationale behind the decision to acquire Certus.

"The contract draws upon a broad portfolio of the services the Group provides, demonstrating our ability to deliver complex managed IT service solutions."

As of 0840 GMT, SysGroup shares had dipped 0.63% to 39.75p.