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Bango bounces as it inks platform deal with leading global telecoms provider

Under the agreement, the telecoms provider will deliver a range of third party products and services to its customers through the Bango Platform and will use data insights to optimise the targeting of product offers

Bango PLC - Bango inks platform deal with leading global telecoms provider

Bango PLC (LON:BGO) said it has signed a significant platform deal with a major global telecoms provider.

The mobile commerce specialist said the deal will run for an initial period of three years and is worth at least £1.5mln with the opportunity to earn additional revenues.

READ: Bango says expanded partnership with South Korea's NHN Corp has completed after investment

Under the agreement, the telecoms provider will deliver a range of third party products and services to its customers through the Bango Platform and will use data insights to optimise the targeting of product offers.

The deal is the second agreement originally referred to in a trading update on December 31, 2019, the first of which was a data partnership with South Korean firm NHN Corp unveiled in April.

"This adoption by a major telecoms organisation and household name is a massive endorsement for the Bango Platform, underlining the quality and reliability of its connection and the unique selling point from Bango data insights", said analysts at finnCap in a note on Thursday.

The house broker, which rates Bango with a target price of 225p, added that "given the complexity of connections and usage of data, we would expect this usage and the contract to roll on beyond the initial three-year period", and that the deal is "likely to encourage further industry adoption".

News of the deal sent Bango's shares up 3% to 124p in mid-morning trading.

--Adds broker comment and share price--

Quick facts: Bango PLC

Price: 169.82 GBX

LSE:BGO
Market: LSE
Market Cap: £126.36 m
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