(Alliance News) - Transense Technologies PLC said Friday it has extended one of the terms of its joint collaboration agreement with Japanese tyre maker Bridgestone Corp to the end of May.
The sensor systems maker in August 2019 announced a collaboration agreement with Bridgestone, which sees the Japanese firm offer Transense's iTrack system as a mining tyre monitor to its customers.
As part of the agreement, Transense agreed that for six months it would not have discussions with any other party for a merger, acquisition or joint venture. This term was first extended in February to the end of April. Now it has been extended further to the end of May.
Shares in Transense Technologies were up 6.9% at 54.00 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Transense (TRT)