Shell destroys analytics firm Arria NLG?
From an article by Ben Martin published 30 April 2015 by The Telegraph
Oil major deals blow to Aim minnow
What was a good day for Royal Dutch Shellinvestors was a disaster for shareholders in an Aim-listed minnow that depended on the oil major for most of its revenues.
While B shares in Shell gained 25½p to £20.94½ on better than expected quarterly profits, Arria NLG cratered 22½p, or 72.6pc, to 8½p after the software business shocked investors with the announcement that the oil company, its biggest customer, had scrapped its contract.
Last May, Arria unveiled a three-year deal with Shell in which the FTSE 100 business had agreed to pay as much as $10m to use its artificial intelligence-driven technology, software that analyses vast amounts of data and within seconds produces written reports. On Thursday, Arria revealed that its services were now longer required by Shell.
The TRUTH will set you FREE.
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