London martech firm mporium inks collaboration deal with claims firm Allay
London-listed marketing technology firm mporium Group has signed an exclusive contract with claims management firm Allay UK.
Under the deal, the marketing technology company said it will attract new customers for Allay via its new "pay-for-performance" MporiumX business platform.
In consideration for the grant of exclusivity, mporium will issue 211.3 million new shares to Allay. Allay will thus hold 25 per cent of mporium's enlarged share capital.
The agreement also includes performance targets relating to the revenue from fees Allay will pay to mporium for services.
Mporium said that if such targets are achieved in full, Allay will be issued with further shares, which would result in Allay holding up to a 29.9 per cent interest in mporium.
"The fact Allay has chosen to become a strategic partner and major shareholder underlines the belief both parties have in the potential of our partnership to develop further avenues of growth," said mporium Chief Executive Nelius De Groot.
"This agreement provides mporium with a significant footprint in lead generation within the consumer regulation sector, which we aim to build upon," De Groot added.
Mporium’s AIM-listed shares were trading 2.4 per cent lower on Friday at 4.95 pence each.