Shares in Geo Interactive Media Group Ltd, the Israeli internet application software company, climbed 25% to 1,638 pence yesterday on rumors that the company was close to a deal with a major European phone group, with Nokia and Ericsson tipped as likely partners. Geo has recently signed a deal with Samsung to develop its streaming software to provide audio and video to mobile phones and a similar partnership with a European phone group is regarded as a logical next step.
Geo was tight-lipped about the reports and would only say that it continues to negotiate strategic deals with third parties. The company added, However, no additional such transactions have as yet been concluded.
What has created enormous demands for the company’s shares on the London stock market is that Geo has been making a series of presentations to institutional investors and these are reckoned to have created the impression that further big deals may be announced soon. The advantage of Geo’s software is that it needs no special plug-in and this is a big attraction to mobile phone companies as they gear their products for internet access.
