Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) shares almost doubled as it settled its legal dispute with partner Azerion with the two also agreeing a new commercial partnership going forward.
Azerion has agreed to pay €3 million to Bidstack with the companies planning to have the new collaboration up and running in 2024.
Through the deal, in-game ad specialist Bidstack will give Azerion's supply side platform, Improve Digital, access to its premium gaming inventory on a non-exclusive basis.
James Draper, Bidstack's chief executive, said: "Bidstack and Azerion will move forward collaboratively following extensive discussions to settle all outstanding disagreements.
“We will resume working together in markets outside of the UK, USA, Canada, Australia, South Korea and Germany, to grow the in-game advertising market through Azerion's network of global and local brands."
Sebastiaan Moesman, CRO at Azerion, added: "We are pleased to announce both the settlement of all past disagreements and a new commercial alliance between our companies going forward.
“After resolving our previous differences, what remains is two companies in the same industry with a complementary offering. We are therefore looking forward to re-establishing our relationship in 2024.”
Shares in Bidstack jumped 92% to 0.6p