News blog
Parseq
- BY: Andrew Hore |
- POSTED: 20/05/2011 |
Parseq has won a three-year contract to supply its mobile banking technology to mobile phone network O2.
The deal has perked up the share price of Parseq, which had been falling. It has risen from 4.2p to 7.62p since the contract was first announced. That values Parseq at £33.3m. The company’s market value was below £20m prior to the announcement. Intelligent Environments has been investing in its mobile banking application Mobinetic since before last summer’s merger with outsourcing business Documetric to form Parseq.
O2 is launching a mobile wallet service in the second half of 2011. This will provide its 20m customers with the chance to make payments, top-ups and m-commerce transactions.
Parseq will be paid an initially licence fee plus hosting and services fees. There will also be a recurring income from transaction fees.
Parseq was chosen from 25 companies that tendered for the contract. The security aspects of the system were one of the attractions. It also helped that Parseq has a hosting operation.
House broker Canaccord Genuity is maintaining its 2011 profit forecast at £4.3m but it will consider changes after the next trading update. Canaccord Genuity believes that Parseq could win more mobile contracts.
Download the May 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFMay2011_20.pdf
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|