(MENAFN- ProactiveInvestors)Data analyser IS Solutions (LON:ISL) has picked up £4mln worth of new business with two new contracts with financial services firms. In a trading statement the firm said the deals would be worth £4mln over the lives of the contracts and £350000 per year after. One contract is for three years while the other will be completed this year with additional work expected after the first phase. Financial organisations are the largest investors in big data solutions the company said. Sales in its Analytics range are 'well ahead of management budget' having signed the deals. Its recently acquired technology division Cerebrus is 64% ahead in revenue terms compared to a year ago as it capitalises on an increasing pipeline of new technology and has recently won contracts in the retail and airline sectors. IS added it would continue its progressive dividend policy with interim and full-year payments. Broker finnCap said: 'Today's update reveals that the first five months of the financial year have seen trading progress well ahead of expectations. 'In light of this upgrade we are lifting our target price from 80p to 115p' the broker said. Shares jumped 36% to 71p today.
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