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Thursday, 29 August 2013
C-COM shares jump on news of strategic partnership with UK-based Vislink
Shares in C-COM Satellite Systems (CVE:CMI) spiked to near 52-week high levels within minutes of the start of trading Thursday, on the back of news that the leading provider of mobile auto-deploying satellite antenna systems had entered into a strategic partnership with Vislink (LON:VLK). The U.K.-based secure communication technology provider will promote, market, sell and support the C-COM manufactured range of iNetVu products.
The news propelled shares in C-COM up 10 cents on previous close on the TSX-Venture Exchange by 10:45am ET, to hit $1.87 per share, an increase of more than 5 per cent.
The iNetVu products are proprietary auto-deploying, vehicle-mounted antennas for the delivery of 2-way high-speed, mobile internet services into vehicles or other transportable structures. The technology is unique, in that it delivers high speed internet in locations where there might be no other means of gaining connectivity. The mobile antennas are said, by C-COM in a company statement released with the announcement, to complement Vislink's existing product range, thus allowing the company to expand into new vertical markets including oil and gas; mining; police, fire, emergency and disaster management.
The mobile antennas are to be integrated with Vislink's technology and sold by the UK-based company to their customers as turnkey systems. C-COM, in turn, will also promote and sell Vislink's high end SNG and MSAT antenna products by making them available to its resellers around the globe.
“C-COM's Ka-band iNetVu mobile antennas combined with Vislink's broadcast and security solutions should open up new vertical markets for both companies,” said president and CEO of C-COM Satellite Systems, Leslie Klein.
“Vislink's global presence combined with our worldwide reseller network will allow us to generate incremental revenues by delivering new applications to our mutual customer base.”
The two companies plan to co-operate on joint R&D projects to develop new products, and to leverage the support programs and incentives offered for such research and development in Canada.
"The combined resources and strengths of both companies should reduce overall costs for research and development and also reduce time to market," said Bilal Awada, CTO of C-COM.
Shares in Vislink were also trading up in London the day of the announcement, rising more than 14 per cent.