The Renfrewshire company has added a five-year software contract worth $3m with an existing analytics customer for the deployment of its intelligence software.

The customer, a leading North American exchange operator, will also deploy the software in New York. Revenue recognition is expected to commence immediately. It is the third contract secured for the product this month.

Beeks said the solution, Market Edge Intelligence, broadens the company’s addressable market, provides significant cross-sell opportunity across its customer base and supports the continued growth of its contracted recurring revenue base.

Gordon McArthur, CEO of Beeks, said the latest deal provided “strong validation of the power of the offering and its opportunity.”

He added: “As customers increasingly seek AI-powered insight closer to where data is generated and consumed, we believe Market Edge Intelligence is well positioned to address a growing market need.

“We have enjoyed an outstanding June, and the pipeline across all offerings remains strong, providing a long runway of growth ahead.”