Rosslyn Data Technologies (AIM:RDT) has secured contract renewals totalling $1.5m that include a $1.2m, three-year licence expansion for a US-headquartered multinational medical devices and healthcare company which will adopt the company’s Artificial Intelligence Classification Engine (AICE).
The second renewal is a $0.3m, one-year licence with a global media and entertainment company, and the combined deals represent the fifth commercial adoption of AICE, with Rosslyn a provider of a cloud-based spend intelligence and predictive analytics platform.
"We are pleased to have extended our relationship with these two long-standing customers and also to see further uptake of AICE as the commercial momentum with our AI solution continues to grow," Paul Watts, Chief Executive Officer, said.
Both customers have over $20bn in annual spend under management and the contracts, together with Rosslyn's recent fundraising, leave the company in a positive position as it approaches its new financial year.
