Motopia shares jump 24% on mobile app deal

Motopia shares jump 24% on mobile app deal

Shares in the soon-to-be-named Motopia (ASX:MVH) jumped 24% Thursday as it announced a mobile app deal with football club Real Madrid.

Subsidiary mConnect has been chosen as an official developer of mobile applications for the Spanish football club.

Under the deal, mConnect will develop a myriad of Real Madrid mobile apps across the iOS, Android, Blackberry, Symbian, Brew and Java platforms.

mConnect now expects its sports division to contribute over $1 million to ebitda within the next 12 months, according to its CEO, Rob Hoath.

“Being selected as a mobile partner for one of the world's leading sporting franchises presents a unique opportunity for mConnect to showcase its mobile development and distribution capabilities,” he said.

mConnect is a mobile development and content distribution company currently serving a partner network of over 100 carriers.

Its parent is a former medical technology company, MedicVision, which changed its business focus to mobile marketing with the $3 million purchase of mConnect in August.

As a result of its new raison d'etre, MedicVision is currently changing its name to Motopia. The company had previously planned to be renamed Media3Corp.

MVH shares today hit $0.155, a more than six month high.

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Tags iPhonemobile applicationsGoogle AndroidMotopiamConnectbusiness dealsReal MadridRob Hoath

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