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Eckoh rallies after winning contract from Kiddicare

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Shares in Eckoh (LON:ECK) rallied this morning after the speech recognition specialist reported a contract win.

The group has secured a two year deal with baby website Kiddicare to provide secure card payment services over the phone.

Under the agreement, Eckoh will supply Kiddicare with its EckohPROTECT payment solution.

Eckoh said the contract gives it an opportunity to “showcase our capability to the wider Morrisons group”.

This is the second EckohPROTECT contract won through the new referral agreement with a global service provider that was announced in May 2012.

“One of our key strategic goals is to increase the deal flow by extending our indirect channel relationships, and as the second EckohPROTECT contract won with our new partner in as many months it demonstrates that we're starting to make very tangible progress in this area,” said chief executive of Eckoh Nik Philpot.

Eckoh noted that this will be the first time Kiddicare will take payments over the phone utilising their existing contact centre agents, but complying with Payment Card Industry Data Security Standards (PCI DSS) regulations.

The service is expected to start next month.

Shares in Eckoh climbed eight percent to 13.75 pence by 9:45am, valuing the group at £28 million.

Quick facts: Eckoh PLC

Price: 59.51 GBX

AIM:ECK
Market: AIM
Market Cap: £151.08 m
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