Synchronica rockets on repeat order
Synchronica, the company which makes email and instant messaging solutions for mobile phones, has seen its share price rocket by 14% this morning following the announcement of a repeat order.
Synchronica, the company which makes email and instant messaging solutions for mobile phones, has seen its share price rocket by 14% this morning following the announcement of a repeat order.
The order from what is described as an "existing Tier-1 mobile device manufacturer" is worth $580,000 of which half is payable immediately with the other 50% due later in 2012.
The revenues from the deal will appear in the 2012 accounts but the cash flow this year will be welcome for Synchronica, which has a market capitlisation of £8.43m.
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Angus Dent, Synchronica's chief executive, said of the agreeement: "This is our first recurring-revenue order for 2012, and the fact that it's an expansion deal from a worldwide 'top-5' device manufacturer truly sets Synchronica off to a great start.
At 9:37am shares in Synchronica were up 14.81% at 5.31p
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