(Alliance News) -Â Toople PLC shares rose on Monday after the telecom services firm reported two contract wins to provide new IP cloud-based services.
Shares in Toople were up 14% at 0.1672 pence in London on Monday.
One contract is with a "leading global investment management and advisory business" based in central London which will utilise DMSL's IP cloud based next generation platform.
Toople at the start of 2020 announced the acquisition of DMS, the holding company for Bishop's Stortford-based DMSL, a firm which provides unified communication services in the UK.
The three-year contract will provide services for the investment management business's employees to have more freedom and accessibility from any location, with the DMSL platform supporting access via an app to desktop, laptop, tablet, and mobile phone.
Separately, DMSL has won a contract to provide services to a "large" property management and sales and letting business based in the east of England. The real estate agency has signed a five-year contract through DMSL for the delivery of IP cloud-based telephony in all their locations.
"These two new contracts are further evidence of continued growth in DMSL's core business, and are expected to accelerate the anticipated timeline to the group achieving positive cash generation and profitability," said Toople.
By Lucy Heming;Â lucyheming@alliancenews.com
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Toople Plc (TOOP)