Pennant International Group PLC's (AIM:PEN) shares rose 15% in Monday morning trading following news of key partnerships to boost its Auxilium software suite.
The company has signed a global agreement with Siemens Digital Industries Software, allowing Siemens to distribute Pennant’s GenS technology as part of its Teamcenter Service Lifecycle Management offering.
Pennant also appointed new sales representatives in South Korea and Japan, expanding into these markets for the first time. Negotiations continue for further partners, including potential agents in India.
In addition, it entered a collaboration with German software firm Warp IT to explore integrating their products for enhanced defence data solutions, with joint proposals expected later this year.
Chief Executive Phil Walker said these partnerships mark significant progress in Pennant’s go-to-market strategy, opening access to new territories while maintaining the flexibility to sell directly and indirectly worldwide.
The shares rose 3.85p to 29.85p.