Canada Zi Corp. deal sends stock to new high
CALGARY, (Reuters) - Market darling Zi Corp. touched a 52-week stock high Tuesday after the software developer announced its largest licensing deal in China.
Shares in the Calgary-based firm hit a peak of C$17.75 on the Toronto Stock Exchange before slipping back to close at C$17.35, a gain of C$1.85, or nearly 12 percent. The firm's previous 52-week high was C$17.40 against a low of C$1.23.
On Nasdaq, the issue peaked at $12 before pulling back to $11-5/8, a gain of $1-1/16.
Zi, whose software allows Chinese characters and other languages to be entered on traditional keyboards or keypads, said Tuesday its technology will be included on China's Legend Computer Systems Ltd. gear.
The royalty deal covers products including set-top boxes, which combine televisions with computers, and personal computers.
The combination of technology is being demonstrated at a trade show in China this week, which is being attended by Zi Chief Executive Michael Lobsinger.
''It's the biggest deal we've signed,'' said a Zi spokeswoman. Legend sells more than 1 million personal and business computers per year, Zi said, and expects to sell 2 million by the close of 2000.
Zi has struck a string of recent licensing deals with such firms as Paris, France-based telecoms equipment supplier Alcatel and Swedish telecoms group Telefon AB L.M. Ericsson . |
