On Demand Information, the Leeds-based provider of electronic data, has signed a deal with BT worth at least pounds 1.85m, the company announced yesterday. Shares raced ahead by 30 per cent to 104p on the news.
George Poulter, chairman and chief executive, saw his personal stake rise to pounds 22.8m from pounds 17m in a day's trading.
Under the agreement, BT has the right to sell two of ODI's multimedia services to business customers, generating an estimated pounds 20m in revenues for ODI over the four years of the contract. ODI had revenues in the year to January 1995 of pounds 5m, and losses of pounds 1.3m. It launched on the unlisted market in 1993 at 78p.
BT will distribute the ODI construction information service, which provides architects, buyers and others with electronic data, and the personnel information service, targeted at personnel managers and covering information on training courses and grants.
BT has expanded its on-line business services in recent months, developing a team of 4,000 corporate sales people. It is aiming to encourage greater use of its ISDN digital network, which allows users to access a range of data, video and audio information.
ODI will continue to market its range of products separately, but the two companies will consider further joint distribution agreements covering other ODI services. BT also agreed to set up ODI terminals at 100 BT offices around the country.Reuse content