UK banking software vendor Mondas says its recently acquired Blue Curve business has won a three year contract with US investment banking and brokerage firm Ferris, Baker Watts (FBW).
The three year contract is reported to be worth in excess of $200K, subject to implementation acceptance, and includes license and support services.
Mondas says Washington DC-based FBW will use the Blue Curve technology to automate the production and distribution of financial research.
The software will be rolled out at FBW's research departments across the US, beginning with San Francisco, Baltimore and Richmond, Virginia. The vendor says the first phase will introduce common document templates and an automated document production process using Web-hosted software managed by Mondas. The ASP service will provide a centralised document repository and distribution point for several research aggregation services.
Heidi Mort, VP, equity research, FBW, says: "We selected the Blue Curve product from Mondas because we feel that it provides the most comprehensive solution on the market. Its modular approach also allows us to implement the software in a way that suits our business needs and budgets."
The contract is its first sale for Blue Curve since it was acquired by Mondas late last year in an all share deal valued at £3 million.
Commenting on the contract, Jarlath McGee, CEO of Mondas, says: "This represents a significant milestone in the development of Mondas and is the first demonstration that the acquisition of Blue Curve is delivering as anticipated."
Mondas shares rose 15.70% to 11.00 pence on the news.