2nd Mar 2015 08:48
LONDON (Alliance News) - Shares in Arria NLG PLC were trading higher on Monday morning after the company said it has completed its initial development deal with FarmLink LLC and entered into a revenue licensing agreement.
The pair announced the initial development agreement in October and, now this phase has been completed, the pair have entered into a five-year revenue licensing deal for Arria's natural language generation engine to be integrated into FarmLink's service and data offerings.
Arria did not provide any financial details on the contract.
"We are delighted to be deploying Natural Language Generation narratives for FarmLink's clients. The initial engagement work was completed in a matter of months, leading to this full licensing agreement," said Arria Chairman and Chief Executive Stuart Rogers.
"The licensing agreement is long term, has solid revenues that can grow over time with FarmLink's business and demonstrates the powerful value of harnessing Arria's NLG technology to the significant analytical tasks modern agriculture demands," Rogers added.
Shares in Arria were up 16% to 32.50 pence on the news, one of the best performers in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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