LONDON (Alliance News) - Shares in broadcasting technology company Motive Television PLC rose 19% Wednesday after it said it had reached an agreement with ABT Africa to provide education content to tablet users in South Africa.
Under the deal Motive will provide specialised tuners and technology to allow children to receive content services in areas with limited broadband connectivity.
Motive expects the value of this opportunity to be worth more than USD2.5 million in revenue. After developing this platform in South Africa, ABT and Motive plan to roll-out the availability of the platform to the rest of Africa.
"The educational market in South Africa and Africa in general is a very large one and this application of existing Motive technology serves to further exemplify the opportunities and value in what the company has developed. In addition to being able to exploit the company's technology in a large and scalable market, Motive has the advantage of local knowledge and relationships, having worked in South Africa since December 2013," said Chief Executive Officer Leonard Fertig in a statement.
Shares in Motive were up 19% at 0.0209 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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