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Nokia deal for EarthPort

Article Date:  Aug 08 2000

EarthPort, Ofex-quoted provider of on-line transactions and payments systems, has clinched a two-year marketing agreement with Finnish electronics giant, Nokia.

Self-styled 'enabler' of the e-economy, EarthPort is understood to have agreed a deal with Nokia whereby EarthPort's payments systems would be marketed to the Finnish group's corporate clients. EarthPort's advisers say the deal is for two years. Headed by David Vanrenen, with ex-stockbroker Philip Chappell on the board, EarthPort broke Ofex records in March with a £25 million placing at 160p a share. Since then the shares have fallen to 120p, after peaking at 360p, though they remain 50p above their year's low of 70p.

Started as an internet gaming and lottery specialist, EarthPort has been busily seeking to expand into new areas and establish itself as a significant player in the new economy. The company has licensed voice technology from Domain Dynamics to develop its WAP strategy and other incursions.

When more details of the Nokia agreement emerge, it will be possible to gauge its significance. But it is certainly a name with which Vanrenen would like EarthPort to be associated. Further analysis can be expected in due course in OffExchange, the independent voice on Ofex.

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