(Alliance News) - Mirriad Advertising PLC on Wednesday said that it has signed a new two-year commercial agreement with an unnamed large US-based content producer and distributor.
Shares in Mirriad Advertising were up 17% at 38.50 pence each on Wednesday morning in London.
The agreement provides a set commercial framework for the advertising technology provider to develop in-video advertising for a number of entertainment series produced by the US-based client, with a view to expanding its in-video advertising into additional content over time.
While there is no immediate income linked to the signing of this agreement, Mirriad said, it sets out the terms and conditions for doing business. It covers both network syndication and streaming, allowing the new partner to expand the use of Mirriad's technology to any of its US distribution platforms and content.
Stephan Beringer, CEO of Mirriad, said: "This breakthrough commercial agreement with this tier one partner is yet another indicator of how our technology is increasingly recognised as a major game-changer by the biggest global players in the world of media and entertainment. Finalising this agreement, despite all of the ongoing challenges posed by the Covid-19 pandemic, is testament to how compelling our technology is as a proposition, and how the Mirriad team continues to deliver effectively.
"This agreement is a decisive step forward in expanding Mirriad's US and global footprint, opening up some of the most exciting content imaginable in the world's biggest advertising market to our patented in-video advertising technology."
By Tapan Panchal; tapanpanchal@alliancenews.com
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Mirriad Advertising (MIRI)