| CATEGORY: SMALL CAPS NEWS SECTOR: SOFTWARE & COMPUTER SERVICES |
Earthport soars on franchise deal |
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Mon 23 Nov 2009
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LONDON (SHARECAST) - Global payments provider Earthport saw its share price ascend on Monday morning after it signed a franchise agreement covering Latin America and the Caribbean.
Zink Financial will provide Earthport with a non-refundable franchise fee of £3.25m for the territories of Central America, South America and the Caribbean as the first year payment in a five year deal.
Under the terms of the agreement Earthport will also receive professional service and monthly maintenance fees.
Zink will represent the interests of a number of financial institutions in the region, such as existing Earthport customer, Hatfield Oak International.
Loss making Earthport has been performing a strategic review which included the possibility of putting itself up for sale.
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