The deal announced today is the second in the US in Q3 17.
Companies: Gresham Technologies plc
Gresham Technologies (LON: GHT) has released a brief trading update this morning announcing it has signed a second "important" client in the US for its Clareti Transaction Control software.
The Group has signed two clients in the US market in Q3 17, the first of which was announced in August.
The August deal was the third in nine months with a Tier 1 North American bank.
The deal announced today is with the US capital markets division of "one of Asia's largest financial services firms" Management said, with news sending shares up 3% in this morning's trading.
Management also noted the Group is "trading in line with Board expectations" and it remains confident in the full year outlook.
N+1 Singer put out a research note on the Group today as a result of its announcement, commenting on the client win:
"This continued positive Clareti momentum in North America is highly encouraging as the region represents the largest opportunity for the group and will help further drive both earnings growth and earnings quality going forward."
GHT share prices have spiked in the past 12 months, with today's price of 200p almost double the 107p price this time last year. With a market cap of £132m, GHT trades at a PE ratio of 30x versus the industry median 17x.
