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.
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