14th Jan 2015 10:31
LONDON (Alliance News) - SyQic PLC on Wednesday said it has signed a deal with UK GlobeTel Ltd, a unit of Philippines-based telecoms group Globe Telecoms Inc, to launch a co-branded version of the Filipino Yoonic OTT services in the UK.
SyQic did not provide any financial details on the deal, but said the agreement will allow Globe's UK customers to view SyQic's live and on-demand channels in the Philippines.
The initial agreement is for one year and is renewable by both parties.
SyQic also said it has received the March and April payments due to the company from Indonesian customer PT Nextnation Prisma. The two payments totalled GBP550,000 and the majority was received prior to SyQic's year-end on December 31.
SyQic shares were down 4.7% to 51.00 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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