Syntonic shoulders into Asia Pacific, Middle East and Africa with Bridge Alliance deal
Seattle-based Syntonic (ASX: SYT) has shouldered into the Asia Pacific, Middle East and Africa under a new collaboration with Bridge Alliance, which is a leading mobile consortium that operates in 34 countries across these regions.
The agreement paves the way for Syntonic to develop a white-labelled and customised version of its International Roaming Service.
Bridge will then sublicence Syntonic’s roaming service to its tier-one mobile carrier members. The service will be branded as Bridge’s, but Syntonic will be compensated for all engineering and support costs associated with its development.
“Entering into this partnership with Bridge represents another major strategic step for Syntonic as it helps us to monetise our revenue generation platform with tier-one carriers located across the globe,” Syntonic chief executive officer and managing director Gary Greenbaum said.
“We see this partnership as another strong endorsement of our unique mobile offering,” he added.
Bridge expects to launch a pilot of the customised roaming service during the following quarter, with the service to be commercially available later this year.
Additionally, a reseller agreement is under negotiation that will allow Bridge to resell the service to its carrier members which have more than 800 million subscribers.
According to Syntonic, its roaming service enables mobile carriers to capture new revenue from the US$676 billion currently generated by online travel transactions.
Syntonic’s technology offers data-free mobile access to online travel services paid for by app affiliation fees and transaction commissions from consumer purchases.
It works by enabling travel app providers such as Agoda, AirBnB, Ticketmaster, Expedia and TripAdvisor to snap up lost transactional opportunities that occur when travellers turn off their cellular data connection during international roaming.
Also, the roaming service enables travellers to purchase data roaming packages and micro-data plans to premium apps.
Today’s news spurred Syntonic’s share price up 20% to reach $0.012 by midday.