Yesterday was a volatile day for CounterPath Corporation (NASDAQ: CPAH). The stock gapped up, and after significant moves up and down, it closed the day with gains of 21.86%. The upside momentum came after the company announced that, it had entered into an agreement with Vodafone Fiji to offer Bria mobile and Stretto platform services. This deal will give more 700k consumers in Fiji and nearby islands access to reliable voice call services. The deal also offers a solution to connectivity issues across this area.
The deal between the two companies is inclusive of a 5-year subscription to the Stretto platform, and CounterPath Bria mobile client, for coverage to mobile clients. Commenting on the deal, CounterPath Chief Revenue Officer Todd Carothers stated that, the company was excited about establishing a long-term relationship with Vodafone Fiji. He added that, with the company’s unified communications solution, Vodafone clients will get many benefits that come from the company’s differentiate product offering, and high-quality user experience. He concluded by stating that, the deal was a major step towards unified mobile communications in Fiji.
On his part, Vodafone Fiji Chief Technology Officer Vikash Prasad stated that, after the company’s analysis of the solutions, they arrived at a consensus that CounterPath’s Stretto and Bria solutions would enhance the company’s expectations, by better controlling the user experience. He added that, with these solutions, the company was in a position to customize its solutions to better offer services in the differentiated market.
Looking at its price action, CPAH gapped up and opened the day at $3.33. It then traded between a low of $2.45 and a high of $3.48, before closing the day at $2.62. Volumes in the day stood at 19.63 million.
About CounterPath Corporation
CounterPath Corporation makes and sells software services to telecommunications companies. It is based in Vancouver, Canada.