Starcom soars on German Porsche deal

Shares in Starcom rose to the top of the tree on Monday on news that the AIM-listed company's vehicle tracking technology had been selected by a Porsche retail dealership in Germany, raising hopes of wider adoption.Starcom's Helios TT vehicle tracking system will be offered to customers of Porsche Zentrum Baden Baden, the largest Porsche dealership in Germany, as a dealer-fitted extra.After adoption by this dealership, which sold over 2,500 new Porsches in 2014, Starcom said "it is hoped that the 26 other Porsche dealerships in Germany will follow suit in due course".Starcom chief executive Avi Hartmann said: "This new partnership is a significant milestone for us. Our distributor in Germany has spent over a year working closely with Porsche Zentrum Baden Baden and, after a programme of rigorous testing, our Helios vehicle tracking system has gained its trust and commitment."Working with Porsche, one of the world's leading luxury car brands, will hopefully increase Starcom's brand and we truly believe this could be the recognition Starcom needs to become a major force in the European telematics market, allowing us to set the standard for vehicle tracking."At 13.9p, shares in Starcom were more than double their last closing price at 08:42 on Monday.