LONDON (Alliance News) - Shares in 7Digital Group PLC rose on Thursday after it signed a contract with Music Powered Games, a developer of online music games.
Shares in the digital music firm were 21% higher at 1.60 pence on Thursday.
Under the two-year deal, 7digital will set up and maintain full music track streaming services for Music Powered Games's new arcade of music games, which will be launched in the mobile app MuzArcade in the US.
7digital said the deal's terms are confidential but are expected to contribute to the firm's monthly recurring revenues straight from MuzArcade's immediate launch.
"We are excited to announce this partnership with Music Powered Games. The industry is rapidly embracing music as a natural complement to the gaming environment and we see this as an important new area for both 7digital and for the music industry as a whole," said Chief Executive Officer Simon Cole.