17th Sep 2013 07:29
LONDON (Alliance News) - DDD Group PLC Tuesday said it had received an investment from US-based InterDigital Inc as it signed a development agreement with the high definition video processing technology company.
DDD said it had raised GBP575,500, or GBP568,500 after expenses, by issuing just over seven million shares to InterDigital at 8.175 pence each. It said it would use the funds to develop its own high definition technology.
It also signed a one-year development partnership with InterDigital under which the companies will collaborate to combine DDD's new image processing techniques with InterDigital's video streaming technology. The companies want to explore the feasibility of the combined technologies for applications in streaming video to mobile devices and Smart TVs.
"Based on the results, both companies will then determine the most suitable deployment approach, which may include licensing the combined technologies to leading providers of streaming video content to consumers," DDD said in a statement.
DDD shares were up 6.6% at 8.925 pence early Tuesday, one of the leading gainers on the AIM market.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
DDD.L