Workmates wins USD 260,000 AWS cloud migration order

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AI summary

Workmates received an order from a leading domestic retail broking and financial services company to migrate workloads to AWS and deploy new applications with managed support. Initial annual recurring revenue is USD 260,000, with the engagement expected to ramp to multi-million-dollar annual recurring revenue over about 24 months.

Likely market impact

The contract adds recurring revenue and strengthens Workmates' cloud-services credentials, but the eventual multi-million-dollar run rate is only an estimate.