Spectra Systems signs two agreements for its smartphone-based technology

Spectra Systems has signed two contracts of product authentication with two suppliers for its smartphone-based technology. The agreements, which include minimum and recurring license fees, are non-exclusive in the People's Republic of China and exclusive in Korea.The minimum and license fees will add more than $0.1m to Spectra in 2015 with "significant" growth potential. Chief Executive Officer Nabil Lawandy said: "The Asian market has an urgent need for this mode of consumer-based authentication and presents significant opportunities for our current generation as well as our future Smartphone based authentication developments."As of 10:30 the share price had risen 5.45% to 28p.WS