Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) saw its shares rocket more than 100% higher as it announced a collaboration with Microsoft to build a new API to enable the use of the AIM-firm’s ad technology for “dynamic insertions by media partners”.
The company, in a statement, said the work to use Microsoft Azure cloud platform and its AI capabilities enhanced connectivity between media partners and the wider adtech ecosystem, and would increase the potential scale of the programmatic advertising opportunity.
"Partnering with Microsoft is an important milestone for the further development of our in-content advertising platform, proposition and business,” said chief executive Stephan Beringer.
"Microsoft is a leader in cloud technology, cognitive and generative AI, which are key elements to the new marketing frontier that we're building.
“The new API is our first release in the collaboration with Microsoft and a main step on our path to scale through automation and integration with the programmatic ecosystem.
“The wide-ranging agreement with Microsoft can unlock significant benefits and opportunities for both parties as we continue to develop our technical capabilities and scale the creation and delivery of contextually relevant ad experiences in content."
In London, Mirriad shares rose by 1.14p or 104%, changing hands at 2.24p.