1st Apr 2015 16:58
LONDON (Alliance News) - Messaging International PLC Wednesday said it will not go ahead with the Secure RCS Messaging project for which it had secured funding in 2014.
The company said it has told the Israel-U.S. Binational Industrial Research and Development Foundation, which had been set to provide up to USD900,000 of grant funding, that it won't pursue the project. The decision came after a "long process carried out with an operator partner".
"As announced, the conditional grant funding of USD900,000, out of which TeleMessage could have received 70%, was for R&D (research and development) of a secure RCS Messaging solution. The project was planned to begin in 2014 until late 2015. The company has adjusted its expenses to partially overcome this change of plan," Messaging International said.
TeleMessage Ltd is a subsidiary of Messaging International. The remaining 30% would have gone to the operator of the project.
By Samuel Agini; [email protected]; @samuelagini
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