13th Nov 2013 09:03
LONDON (Alliance News) - Legendary Investments PLC Wednesday saw its shares rally after one of its investments, Virtualstock Ltd, signed a "significant" contract extension with Office Depot to support the stationary retailer's expansion into Germany, Austria, Switzerland and the Benelux countries.
Virtualstock provides Office Deport with its cloud-based managed software platform, which connects with Office Depot's set of systems and those of suppliers, allowing for a far greater range of products to be offered on-line, according to Legendary.
No financial details of the deal were provided.
Still, Legendary Investments shares were up 14.1% at 0.097 pence early Wednesday, one the of the biggest gains on AIM.
VirtualStock signed a "landmark" three-year contract with one of the UK's largest retailers back in June.
"Having signed the landmark contract with a leading British retailer in June 2013, the contract extension with Office Depot marks continued successful international expansion," Legendary Chairman Zafar Karin said in a statement. "Fundamentally the international expansion validates the scalability of the business model."
By Steve McGrath; [email protected]; @SteveMcGrath1
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