23rd Jul 2025 14:17
(Alliance News) - Pri0r1ty Intelligence Group PLC shares declined on Wednesday, after the firm on Tuesday reported it has won "significant" new contracts with an unnamed English Premier League football club.
Shares in the software-as-a-service provider focused on AI were down 12% at 4.38 pence in London on Wednesday afternoon. The stock is down 59% over the past year.
The contracts totalled around GBP250,000 and were awarded to Pri0r1ty's recently acquired sports data and marketing business Halfspace Ltd.
Under the terms of the deal, Halfspace will support the client in using data and marketing to drive higher returns on ticketing and hospitality sales. The client will also use Halfspace's Compass ID tracking technology to support its data-gathering.
"Today's announcement builds on the contract with a major European sports rights holder announced earlier this month and reflects increasing awareness among high-profile sports teams around the role of data in driving marketing strategies and commercial growth," said Pri0r1ty Chief Operating Officer & Halfspace Chief Executive Officer Rory Maxwell.
"It is further validation of PR1's compelling business proposition having integrated the Halfspace data and marketing operations into our AI business, and we are well-positioned to capitalise on further opportunities going forward."
Pri0r1ty bought Halfspace in June this year. Terms for the takeover included the issue of 30.8 million shares at 2.5 pence each to the shareholders of Halfspace, worth a total of GBP769,230. The firm issued half the shares on completion of the acquisition at the beginning of July, with the other half to be issued pending performance targets.
Halfspace must achieve revenue of at least the approximate average of the last two years, worth around GBP630,000, in the twelve months after completion to meet the target.
Also at the beginning of July, Halfspace was awarded a marketing contract with an unnamed "major European sports rights holder". Halfspace will use its GDPR-compliant Compass ID system to access audience data from the holder's channels, websites and apps.
The earlier contract was worth around EUR100,000 over three months and may be extended further, the company said at the time.
By Emily Parsons, Alliance News reporter
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