Online spread betting specialist Spreadex has teamed up with Computacenter to provide a HP-based private cloud platform for betting and trading customers in a deal worth £1.2 million.

The solution, which incorporates 40 terabytes of storage, is expected to underpin trading transactions made everyday by users and support back office systems.

Spreadex, which offers its services in the financial and sports sectors, said Computacenter would also enable replication between its two datacentres in London and St Albans.

David Farlam, an infrastructure analyst at Spreadex, said: "The new private cloud environment will give us the scalability and stability we need to support our business as it continues to grow.

"By basing our private cloud on a converged infrastructure stack from HP, we will be able to provide the security, availability and performance that our customers have come to expect."

Spreadex’s turnover increased 14% to £29.4m in the past twelve months, and has seen profits before tax jump 25% to £14.4 million.