- Linius Technologies’ (LNU) shares enjoyed a boost after the company secured a three-year contract with an Australian university for use of its Whizzard product
- The company has entered a deal with the University of Queensland following a “successful trial”
- With trials ongoing across other Australian universities, LNU hopes it may open the door to more contract wins
- Expected revenue from the contract is yet to be determined and will be subject to take up of the product
- Linius Technologies’ shares are up 20.7 percent to trade at 3.5 cents
Linius Technologies’ (LNU) shares enjoyed a boost after the company secured a three-year contract with an Australian university for use of its Whizzard product.
Under the new deal with the University of Queensland, Linius’ Whizzard video solutions product is set to be deployed site-wide with an initial purchase of 10,000 subscriptions.
It follows a “successful trial” of the Whizzard product and represents Linius’ first commercial deal within the Australian High Education sector.
Linius describes Whizzard as a video conferencing and enterprise collaboration solution which allows users to search, assemble and share video content from within recorded meetings.
The company said other trials are currently underway across other Australian universities as part of its commercialisation strategy, which Linius’ hopes could open the doors to more contracts.
Overall revenue is not determinable at this time according to Linius and is subject to “take-up of the service and add-ons.”
Linius Chief Executive Officer, Chris Richardson, said the company’s investment in the product was already bearing fruit.
“The University of Newcastle trial and the agreement flowing from it has demonstrated the Whizzard product is market-ready and paves the way for its mass adoption in the Higher Education market,” he said.
“We expect the Whizzard product to gain further market traction over coming months, with a number of other Australian universities now committed to trialling it”
Linius Technologies’ shares were up 20.7 percent at 1:32 pm AEST to trade at 3.5 cents.