Major bank signs with Autonomy.
Investors Chronicle - magazine and web content, January, 2008
Multi-million dollar compliance software deal shows banks are still spending on IT if they need to Tim Bradshaw
Autonomy has signed a large contract to provide archiving systems to an unnamed "major global bank". The deal is expected to bring in $70m (GBP35m) of revenues over the next few years, making it the largest contract win in the software company's history.
Autonomy's shares rose 1.8 per cent to 890p on the news, continuing a steady recovery after November's 23 per cent fall, after which the shares hit a six-month low at 750p.
But the deal has a wider significance for the software sector, too. Technology companies have seen a broad derating in recent months as investors fretted about weake ning IT spending, especially within the...
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