IN BRIEF: Insig AI signs new commercial deal with London asset manager

Insig AI PLC - London-based data science and machine learning firm - Secures a new unnamed client, which is a London-based asset manager with assets under management of more than £1 billion, that spcialises in European credit investments. The two companies have entered a commercial deal including both a licence fee and an annual retainer for Insig AI. The firm notes that the initial contract is not material in terms of revenue, but that areas across the client’s investment process have been identified where Insig AI’s technology can provide value, ‘providing scope for a broader long-term relationship’.

‘We are delighted to have closed another piece of business with a new client that is harnessing the power of technology to enable it to grow its top line. This win reinforces the relevance of our offering. We are also pleased to report on multiple new sales opportunities,’ says Chief Executive Officer Richard Bernstein.

Current stock price: 34.75 pence, down 4.8% in London on Tuesday afternoon

12-month change: up from 12.75p

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