Bidstack settles legal dispute with Azerion, agrees to new commercial partnership

Software firm Bidstack shares surged on Friday after settling its legal dispute with partner Azerion and agreeing to a new commercial partnership.

Azerion will pay €3.0m to Bidstack for the settlement and new agreement, while the companies intend to have their collaboration up and running in 2024.

As part of the new deal, Bidstack will give Azerion's supply-side platform access to its premium gaming inventory on a non-exclusive basis.

Chief executive James Draper said: "Bidstack and Azerion will move forward collaboratively following extensive discussions to settle all outstanding disagreements.

"We will resume working together in markets outside of the UK, USA, Canada, Australia, South Korea and Germany, to grow the in-game advertising market through Azerion's network of global and local brands."

As of 0940 GMT, Bidstack shares had surged 143.85% to 0.79p.

Reporting by Iain Gilbert at Sharecast.com