Pelatro inks licensing deal with mystery Asian telco

Marketing software specialist Pelatro has been singled out by an unnamed large Asian telecommunications outfit to implement its contextual marketing platform on a license fee model.

Pelatro told shareholders on Tuesday that its latest contract win had further strengthened the company's client base, which now stands at 18 clients across 17 countries - providing the group with further earnings growth and additional cross-selling opportunities.

The AIM-listed company also noted it was continuing to contract for significant change requests and highlighted that the collective value of the new contract and recent change requests was about $1.5m.

Managing director and chief executive Subash Menon said: "We are delighted with the continued strong progress that the company is making as it converts its healthy pipeline of new opportunities.

"Importantly, in addition to adding new clients we are benefiting from increasing levels of repeat business and cross-selling opportunities from existing clients, underpinning the Board's confidence in trading as we close the first half of the year."

As of 0820 BST, Pelatro shares had climbed 5.07% to 76.70p.