Shearwater climbs as subsidiary wins 3-year Parkmobile contract

Shearwater Group's shares climbed on Friday after its portfolio company Xcina Consulting won a multi-year contract with mobile payments firm Parkmobile.

Under the terms of the contract, Xcina will deliver a qualified security assessment of Parkmobile's UK and NL card data environment to ensure that its business is compliant with the Payment Card Industry Data Security Standard.

Parkmobile, part of the BMW Group, specialises in electronic and digital parking solutions in more than 1,000 towns and cities internationally, processing in excess of 80 million card payments a year in the UK alone.

Shearwater's shares were up 8.95% at 2.07p at 1009 BST.