23rd May 2014 12:13
LONDON (Alliance News) - Shares in Arria NLG PLC rose Friday after it said its subsidiary Arria Data2Text Ltd has signed a three-year contract with Shell Exploration & Production Co, part of Royal Dutch Shell PLC, in a deal worth USD5 million to USD10 million over the three-year period, which is effective from June 1.
The firm, which develops and deploys natural language generation technologies, said the deal provides Arria with annual fees for non-exclusive use of its core product, Arria NLG Engine, to expand natural language generation decision support technologies to Shell's offshore platforms across parts of the Americas.
"This agreement reinforces our existing relationship with Shell and provides us the ability to expand our technology across Shell's operating units," said Arria Chairman and Chief Executive Stuart Rogers in a statement.
Natural language generation is the computerised process of analysing and converting Big Data into actionable information.
Shell Exploration & Production explores, develops and produces oil and natural gas primarily in the deepwater fields of the Gulf of Mexico.
Arria NLG shares were up 12% at 63.00 pence each Friday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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