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FINTECH GROUP AG (FTK)
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FinTech : Storm Software PLC Announces the Sale of Marketing Rights to Their App “Playback”

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12/06/2017 | 09:01am CEST

London, United Kingdom, December 06, 2017 --(PR.com)-- Storm Software PLC announces the sale of the marketing rights to their App “Playback,” for Mainland China and Hong Kong.

Storm Software Plc, an IT corporation with divisional FinTech services ranging from Employment to Financial Trading to Software Development, announces the sale, through a licensing agreement, of its catch all mobile telephone recording software – Playback Technology Limited – to MT Invest Tech China.

MT Invest Tech China will market the catch all mobile telephone recording software to mainland Chinese banks and financial traders, the Licensing Agreement also allows MT Invest Tech China to market to Hong Kong, however, at present a distribution partner has not been nominated.

The right to market the Software in Africa, Australasia, Asia, Europe, India, the Middle East, Russia and North and South America remains the sole right of Storm.

Under the terms of the licensing agreement with MT Invest Tech China, Storm will provide support services through a representative office in China, staffed by Storm employees.

“This catch all software has exceptional possibilities and we see multiple opportunities for banking compliance, client billing, call monitoring, training and even personal security,” said Anja Suen, Head of Development (China) of Storm. In response Michael Tan said, “We are pleased to be working with Storm and look forward to the partnership progressing further.”

This is a key financial move for Storm, who will benefit from a significant income stream from the software licensing, whilst having the opportunity to continue research and development on related technologies.

Storm’s software development division provides specialist FinTech App development and design for a number of high profile companies with compliance and FinTech security needs. Storm prides itself on high level innovation, looking to create user friendly security technologies with high functionality.

Contact Information:
Storm Software PLC
Anja Suen
+44 (0) 3333 441633
Contact via Email
https://www.stormsoftwareplc.com
Kemp House
152 - 160 City Road
London
EC1V 2NX

Read the full story here: https://www.pr.com/press-release/738025

Press Release Distributed by PR.com

Copyright © 2017 PR.com and its licensors , source US Press Releases

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Financials (€)
Sales 2018 125 M
EBIT 2018 39,2 M
Net income 2018 26,1 M
Finance 2018 101 M
Yield 2018 -
P/E ratio 2018 19,16
P/E ratio 2019 15,29
EV / Sales 2018 3,20x
EV / Sales 2019 2,69x
Capitalization 501 M
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Frank Niehage Chief Executive Officer
Martin Korbmacher Chairman-Supervisory Board
Muhamad Said Chahrour Chief Financial Officer
Stephan Simmang Chief Technology Officer
Stefan Müller Deputy Chairman-Supervisory Board
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