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TRT Transense Technologies Plc

102.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Transense Technologies Plc LSE:TRT London Ordinary Share GB00BDHDTH21 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 102.50 100.00 105.00 102.50 102.50 102.50 53,009 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motor Veh Suply,new Pts-whsl 3.53M 1.4M 0.0898 11.41 15.93M

Transense Technologies Signs Acoustic Technology Deal With GE -- Update

18/07/2016 10:18am

Dow Jones News


Transense Technologies (LSE:TRT)
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From Mar 2019 to Mar 2024

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By Simon Zekaria and Olga Cotaga

 

LONDON--Shares in Transense Technologies PLC (TRT.LN) soared Monday after the industrial sensor systems producer said it had signed a licensing deal worth more than $750,000 with U.S. conglomerate General Electric Co. (GE) to provide its surface acoustic wave technology.

The deal comprises a payment of $500,000 and a second payment of $250,000, subject to testing of the technology by GE. Should GE not make this further payment by June 30 next year, the license will end, Transense said.

In addition, GE will pay royalties to Transense.

"The signing of this licensing agreement with GE is a very significant development for Transense," said Transense Chief Executive Graham Storey.

Separately, Transense said it expects trading for the fiscal year ended June 30 was in line with expectations of revenue of about 2 million pounds ($2.64 million).

At 0816 GMT, Transense's shares were up 58% at 1.6 pence.

 

Write to Simon Zekaria at simon.zekaria@wsj.com and Olga Cotaga at olga.cotaga@wsj.com

 

(END) Dow Jones Newswires

July 18, 2016 05:03 ET (09:03 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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