2024-06-20 12:07:28 ET
This next-generation consumer cloud platform is moving higher in morning trade after announcing a signed agreement that will integrate its platform to over 5 million mobile devices.
%MiMediaHoldings Ltd. (TSXV: ) announced in a press release today that it has signed a global distribution agreement with Schok, LLC, a smartphone industry pioneer. The multi-year agreement involves MiMedia integrating its platform directly onto 5 million mobile devices over the next 24 months, including smartphones and tablets. MiMedia's consumer cloud platform will provide Schok with a churn-reducing product, deliver immediate market differentiation and enable multiple high-margin and recurring revenue streams.
MiMedia is not just a next-generation consumer cloud platform, but also a strategic partner to smartphone makers and telecom carriers globally. Its unique personal cloud experience enables all types of personal media to be secured in the cloud, accessed seamlessly across all devices and operating systems, and at any time. This partnership aims to provide consumers with innovative solutions.
Schok’s aim is to bridge the gap between affordability and functionality with smartphones that feature cutting-edge technology typically reserved for higher-priced devices but are now accessible to a broader audience.
Shares of MiMedia were moving higher in late morning trade.