Spacetalk Enters MOU With TPG Telecom; Spacetalk's Shares Rise 3%

MT Newswires Live02-24

Spacetalk (ASX:SPA) entered a non-binding memorandum of understanding (MOU) with TPG Telecom (ASX:TPG), for the distribution of the company's family safety software platform to Vodafone Australia's postpaid mobile customers, according to a Tuesday filing with the Australian bourse.

The contract is for a year, and the company expects the execution of binding agreements in the third quarter of the fiscal year, the filing said.

It supports the company's target to reach AU$20 million to AU$25 million of annualized recurring revenue within the year, the filing added.

Shares of the company rose past 3%, while shares of TPG Telecom rose 1% in recent Tuesday trade.

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