AIM-listed digital media and technology company Milestone (LON:MSG) has announced a strengthened agreement with joint venture partner Black Cactus Holdings, causing shares to rise nearly 8 percent.
The agreement is for its subsidiary Nexstar, a media company delivering online digital entertainment and payment solutions. It has updated and strengthened its agreement with its joint venture partner Black Cactus Holdings, it was announced on Wednesday, giving Nexstar exclusive access to all intellectual property of Black Cactus.
This includes the additional IP and technical know-how specifically surrounding blockchain development and Fintech solutions, giving the company a boost in that area of business. The terms of arrangement also allows for each party to commute commissions from sales generated via the agreement into stock in the other party up to a pre agreed level.
Nexstar’s suite of technology is disruptive – it combines blockchain, social media and analytics to provide products and services allowing the end user with more control and security over the data and IP.
Deborah White, CEO of Milestone commented, “This is an exciting development for the Company – it further enhances our technology offering and secures Blockchain development capability across our portfolio”.
The updated agreement also incorporates existing financial deals that Black Cactus has negotiated on its own behalf. Black Cactus is a digital media and financial technology company originally based in Victoria, Australia, but with offices in London.
Shares in Milestone are currently up 7.23 percent at 0.252 per share (1149GMT).