19th Mar 2015 08:36
LONDON (Alliance News) - Mercia Technologies PLC Thursday said portfolio company VirtTrade Ltd has agreed a deal with Panini Group, which is famous for its football sticker albums and other collectibles.
Mercia, which is based in the English Midlands, and aims to fund technology businesses across the UK, revealed in January that it had taken a 21% stake in VirtTrade for GBP1.5 million, but the identity of a "notable" partner referred to in that statement had not been disclosed until now.
VirtTrade, which transfers the concept of trading cards to a digital platform, will provide "digital trading technology" to Panini.
"We strongly believe that a digital trading platform has the potential to increase the success of licensed collectibles," Panini licensing director Peter Warsop said in a statement.
"Digital trading cards present an exciting opportunity and we feel that, through the application of VirtTrade's proprietary technology, Panini can extend its industry leading position in sports and entertainment collectibles to this newly emerging sector," Warsop said.
Italy's Panini was founded in 1961 and is known for producing for sticker albums that mark key events in football, such as the World Cup or the UEFA Champions League.
Mercia shares were untraded early on Thursday morning in London at 60.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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