Seattle-based software company, Syntonic
(ASX:SYT), has licensed its platform technologies to the world’s second largest mobile carrier, Verizon Wireless.
Verizon will have a non-exclusive licence to deploy and sublicense Syntonic’s Freeway SDK (software development kit).
Synotinic’s Freeway software allows free-of-charge mobile internet access on smartphone by having advertisers sponsor the data charges.
The software company says it will recognise revenue from this deal this quarter. It expects revenue to be generated through the initial licence grant, and on an ongoing monthly basis by the use of Freeway in apps distributed across Verizon’s 100 million+ subscriber base.
This morning, Syntonic shares are tracking 14.8% higher at 3.1 cents.
