The Barkby Group PLC (AIM:BARK) shares jumped 28% higher in morning trade after the firm's Cambridge Sleep Sciences (CSS) subsidiary announced a new partnership and licence agreement with Bowers & Wilkins, part of Masimo Inc's consumer audio division.
The agreement allows CSS's SleepEngine technology, utilized in its SleepHub product, to be integrated into Bowers & Wilkins Audio's premium products, including the Zeppelin wireless speaker and Px7 and Px8 wireless headphones.
The initial agreement is valid until 31 December 2025, with the possibility of a three-year renewal. Masimo Consumer Audio will handle the marketing and distribution of SleepEngine through the Bowers & Wilkins Music Store.
Revenue generated from the service will be shared between CSS and Bowers & Wilkins.
In a statement, Dr. Julian Stone, CEO of CSS, commented: "This deal shows significant progress in the growth of the CSS business. Following the success of our SleepHub product, being able to offer our unique SleepEngine technology in such high-quality audio products will provide added value to customers and help many to improve their sleep, health and wellbeing."
Around 9.45am, Barkby shares were up 28% at 4.80p.