LONDON (Alliance News) - Motive Television PLC on Tuesday said it and joint venture partner Tablet TV LLC have signed licence agreements to activate their US joint venture.
Motive said it has Tablet TV has signed two agreements under which their joint ventures will receive non-transferable, perpetual and irrevocable licences for use of Motive technology in the US and Canada.
Motive did not provide any financial details on the deal.
"These licence agreements are the most significant and valuable contracts signed in Motive's history. After three years of hard work, Tablet TV is ready to take its place as an operating business across the United States and Canada, and it is important to put the licensing agreements in place to go forward with industry partners and strategic investors," said Motive Chief Executive Officer Leonard Fertig.
Shares in Motive were up 1.5% to 0.0335 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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