Lo-Q, the AIM-listed provider of virtual queuing systems for theme parks and major attractions, has signed an agreement with Six Flags to extend their existing contract to the end of 2017.
The agreement, which was due to expire on 31 December 2012, will see Lo-Q continue to supply its Q-bot solution to the eleven Six Flags sites at which it currently operates.
Six Flags, the company's largest customer and the world's largest regional theme park operator, has also agreed to have Lo-Q's Q-band systems installed at a number of water park sites within its estate as quickly as possible.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In addition, the agreement provides for an assignment of additional patent rights to Lo-Q that enhances its virtual queuing portfolio.
Commenting Tom Burnet, chief executive officer of Lo-Q said: "We are delighted to be extending our enduring partnership with Six Flags for another six years. This is the clearest proof yet of the power of our existing and new products, the strength of our sales force and the long-term opportunity open to us."
The share price rose 1.63% to 187.5p by 09:04.
NR
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
