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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| GE Aerospace | NYSE:GE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.85 | 1.14% | 164.49 | 165.74 | 162.0101 | 165.30 | 3,967,223 | 01:00:00 |
From May 2019 to May 2024
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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