TechMpire clarifies announcement, says formal deal ‘by no means certain’
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Digital ad agency Tech Mpire has clarified a previously announced deal with “one of the world’s largest” video streamers — following an ASX-imposed trading halt.
On Monday Tech Mpire (ASX:TMP) said it was “pleased to announce it has been selected as part of a core group of marketing partners to develop upcoming Asia Pacific media campaigns with one of the world’s largest video streaming companies”.
On Wednesday Tech Mpire added:
“Any formal agreements would need to be negotiated between the parties and were therefore by no means certain at this stage.
“At this point, the company cannot quantify the financial impact of the engagement in real terms.”
There was no immediate revenue from activity referred to in the announcement.
The client was one of the “top three” streaming video providers, Tech Mpire said.
After the first announcement, the stock rose as much as 17 per cent — and last traded at 20c before the ASX imposed a trading halt.
The partnership is a first by TMP in the Asia Pacific. They say it is a validation of a strategy to reach new high-growth markets, targeting well-funded mobile advertisers in the region.