LONDON (Alliance News) - Shares in Proxama PLC rose Monday morning after saying it has signed a three-year exclusive licence and distribution agreement with Brazilian payment, identification and telecommunication systems company Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação SA.
Under the agreement Valid will distribute Proxama's TapPoint mobile payment products in Latin America. No financial details of the agreement were disclosed.
"The fast growing Latin and South America regions are a really exciting opportunity for us to further expand our global ambitions, and Valid are the perfect partner. As a highly respected business across the entire region and with real ambition to become the market leader in mobile," said Chief Executive Officer Neil Garner in a statement.
Shares in Proxama were trading up 9.7% at 7.54 pence Monday morning, having hit an intraday high 8.69 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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