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TV2U shares are soaring on a video platform deal with an Indonesian telco

Bay Ismoyo/AFP/Getty Images

Shares in TV2U, an aggregator of video, karaoke and gaming content, jumped after a deal with Indonesian government telecommunications company PT PGAS Telekomunikasi Nusantara.

A short time ago, the shares were up 40% to $0.021.

TV2U has a $US3.5 million ($A4.5 million) deal with ongoing revenue potential to provide a white label platform of video-on-demand, games, music and karaoke.

The Indonesian group has one million home customers and more than 100,000 businesses.

“This is a unique opportunity for our company to partner with Indonesia’s leading utility and telecommunications group,” says TV2U chief executive Nick Fitzgerald.

“Not only does the partnership provide a further endorsement of our unique technology and business concepts, it also gives us access to a very large and lucrative market.” 

TV2U completed a backdoor ASX listing last year via Galicia Energy Corporation.

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