MobileMax shares jump on Verizon collaboration

MobileMax will help power Verizon's Global Fixed Mobile Convergence solution.

MobileMax's share price soared 29.3% to NIS 1.56 on the TASE in early afternoon trading on the news that it had signed a large deal with Verizon Business, a unit of Verizon Communications Inc. (NYSE: VZ). The amount of the deal was not disclosed.

Mobile integration solutions developer MobileMax Technologies Ltd. (TASE:MBMX) today announced that Verizon Business is leveraging the MobileMax Enterprise edition platform to help deliver its new Verizon Global Fixed Mobile Convergence (FMC) solution to its enterprise customers.

Verizon Business employs advanced handset software from MobileMax for its FMC to determine cost-effective routing for mobile calls. The service dynamically directs mobile calls to either Verizons cloud-based global VoIP communications platform, powered by Broadsoft, or to the users mobile network service.

The initial offering is immediately available to Verizon Business customers in nine European countries, including Belgium, France, Germany, Ireland, Italy, the Netherlands, Spain, Sweden, UK and US and Asia Pacific-headquartered companies will also be able to take advantage of the new service for employees in the initial service area.

MobileMax began cooperating with Verizon in August 2009 when it received orders worth NIS 2.3 million, as part of which the company adapted its software service products to those of Verizon and sold software products to its communications network.

MobileMax CEO and co-founder Raanan Cohen said, Cooperation with one of the world's largest and leading communications companies like Verizon is a significant milestone for MobileMax."

Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2010

Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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