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(Sharecast News) - Software firm Pebble Beach said on Monday that it has secured a new contract win in support of a "Tier 1, US-based streaming company", worth an initial 1.3m over its five-year term.
Pebble Beach said the contract had been secured via a US-headquartered partner, with its specialist automation technology being implemented to support the end-customer's expansion into live sports broadcasting.
Implementation of its technology has already started and, following completion, Pebble will provide support and maintenance services over the contract term.
The AIM-listed group also noted that the new agreement has scope for "significant further revenues" as the relationship grows and extends.
Chief executive Peter Mayhead said: "This new contract, in support of one of the largest streaming services companies globally, is testimony to the quality of our automation software - which is widely considered to be 'best of breed' - as well as our ongoing support and maintenance services.
"As streaming companies move into live content, especially sports, and seek to drive advertising revenues, Pebble's technology becomes a highly relevant and proven solution. We look forward to completing the delivery of our solution and to a successful, long-term relationship."
As of 1230 GMT, Pebble Beach shares had shot up 13.98% to 18.81p.
Reporting by Iain Gilbert at Sharecast.com
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