IN BRIEF: LoopUp shares double on two-year Telefonica contract

LoopUp Group PLC - London-based software provider for remote meetings - Wins two-year contract with Spain's Telefonica SA with minimum value of EUR200,000 and potential for expansion and extension. Telefonica signs deal with company's recently-acquired Hybridium, which holds LoopUp's "hybrid auditorium & events technology".

Hybridium President and LoopUp Chief Technology Officer Victor Sanchez says: "Our ambition at Hybridium is to help organisations catapult engagement, learning and communications to the next level, allowing morale and competitiveness to thrive in the post pandemic workplace. We see this project with Telefonica as a major milestone on that journey."

Adds that it is on track to meet its full-year target of securing 50 additional contract wins in the 2022 financial year.

Current stock price: 13.75 pence, up 96% on Wednesday

12-month change: down 82%

By Paul McGowan; paulmcgowan@alliancenews.com

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