World News: 05:09 GMT Thursday 6th December 2018. [SimCorp A/S via Globe Newswire via SPi World News]
Company announcement no. 13
SimCorp announces that it has signed a very large 8-year subscription license agreement with an Asian investment company, for the use of SimCorp Dimension.
The investment company will use SimCorp Dimension across front, middle and back office, including the investment book of record. The system will be supported by SimCorp’s suite of managed services as part of a cloud-based delivery model.
The realization of the total contract value is subject to successful completion of milestones in the initial term of the contract. Consequently, only a smaller proportion of the license revenue can be recognized in 2018, while the majority of the license revenue is expected to be recognized in Q2 2019.
Klaus Holse, CEO at SimCorp comments: ”We are proud to welcome another new APAC client to SimCorp’s client community. This agreement is an important step in further strengthening our position in the region, where we have now signed five new clients since 2016.”
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000) Michael Rosenvold, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 5235 0000)Anders Hjort, Head of Investor Relations, SimCorp A/S (+45 3544 8822, +45 2892 8881)
Media contact:Anders Crillesen, Group Communications Director, (+45 3544 6474, +45 2779 1286)
Company Announcement no. 13/2018
Globe Newswire: 05:09 GMT Thursday 6th December 2018
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