Mobile content and data intelligence company Mobile Streams’ (LON: MOS) share price is gaining on Monday after the company announced it has signed a “major” contract with Tappit Technologies to use its Streams data platform.
The deal is worth up to £480,000 over four years, with a minimum of £10,000 per month for at least six months. The company said it will increase its Streams revenue to approximately £35,000 per month, a rise of around 300% since December.
Tappit provides proprietary contactless payment and fan experience ecosystems at sports and entertainment venues. Its clients include Kansas City Chiefs, Jacksonville Jaguars, Learfield/IMG, Formula 1, San Antonio Spurs, and the San Diego Padres.
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Tappit’s CEO, Jason Thomas, said: “We are delighted to have signed this contract with MOS – the partnership will enhance our ability to support our clients in leveraging their data to increase operational efficiency, security and revenues.”
Nigel Burton, Non-Executive Director of Mobile Streams, said: “We are extremely pleased to be able to announce this major contract. This is another important enterprise client win for the Streams data business which has shown exceptional growth since the start of the year. We look forward to working closely with Tappit.”
Source: IG
Mobile Streams share price rose to 0.2955p following the announcement. They are currently trading at 0.2646p, up 3.94%.
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Should you invest in Mobile Streams shares?
Mobile Streams shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are MOS shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
