I-Design shares soar thanks to US contract

By PETER RANSCOMBE
Published on 19/06/2012 14:25

Shares in I-Design soared by up to 20 per cent after the Dundee-based software firm signed a deal with American cash machine operator First Data.

I-Design’s software allows banks and other financial institutions to show advertisements on their cash machines and, following the deal with First Data, the Scottish firm’s porgram will run on 28,000 machines, up from 21,500 at present.

Ana Stewart, chief executive at I-design, said: “This agreement with First Data, one of the world’s largest providers of payment processing services to financial institutions, marks our third major sale of our new enhanced Joono solution since its launch in June last year.”

Robert Sanders, an analyst at house broker Westhouse, said: “Today’s news adds further credibility to our investment thesis for I-Design, which is the ability to deliver a highly-geared profit increase from improving revenues.”