- Product authenticator YPB Group's (YPB) share price has soared amid an announcement on a $1 million master services agreement (MSA) with Legitifli
- The five-year agreement relates to YPB’s revolutionary smartphone-based authentication solution MotifMicro
- Legitifli will have exclusive access to promote and sell YPB’s product in its target reseller segment territories of the U.S., Canada and Australia
- The business will begin rolling out MotifMicro in the coming months, while its T2 original tracer-scanner technology will be out in use immediately
- Shares in YPB are trading up 50 per cent at 0.3 cents each
YPB Group's (YPB) share price has soared amid an announcement on a $1 million master services agreement (MSA) with Legitifli.
The product authenticating business announced it has signed a five-year agreement relating to its smartphone-based authentication solution MotifMicro.
Under the deal, Legitifli will have exclusive access to promote and sell YPB’s products in its target reseller segment territories of the U.S., Canada and Australia.
The company works in a similar market as YPB — focusing on product authentication solutions in the U.S. reseller market for sportswear, sneakers, streetwear, accessories and collectable items.
Legitifli will begin implementing YPB’s solutions straight away, by first rolling out the company's T2 original tracer-scanner technology on labels.
MotifMicro will then be rolled out in the coming months, once YPB releases the MM1 consumer app — which is on track to be completed in Q2 2021.
Legitifli's joint venture partner will also adopt YPB’s CONNECT product, a consumer engagement software as a service (SaaS).
Commenting on the agreement, YPB Group CEO John Houston said it marked the first time MotifMicro had been monetised.
"The MSA with Legitifli is a tremendous, historic milestone for YPB, being the first monetisation of our investment into MotifMicro and an explicit acknowledgement of its commercial value, relevance and appeal," he said.
"In addition, the entry with a dynamic partner into a vibrant vertical with critical need for product authenticity and starting in the huge U.S. market offers obvious revenue prospects," he added.
Shares in YPB Group are trading up 50 per cent at 0.3 cents each at 2:50 pm AEDT.