VANCOUVER - Shares in Versatile Systems Inc. (TSXV:VV) rose 17 per cent Friday, a day after the firm said it had completed the first deployment phase of an accounting system for a major U.S. food distributor.
Revenue of up to $6.6 million is expected after full deployment of the Mobiquity Route system is achieved in 15 to 21 months, the Vancouver-based company said, to be followed by service revenue.
In afternoon trading on the TSX Venture Exchange, Versatile stock was up 3.5 cents at 24,5 cents on 7.8 million shares traded.
Mobiquity Route is the core driver of a system that will be used by the unidentified distributor throughout the United States and Canada. It includes Versatile's software, third-party rugged handheld devices and Versatile services.
The accounting system provides data communication between a customer's system, route sales force and distribution managers. It gives drivers access to current customer, pricing and inventory data, and lets them create and deliver orders in the field.
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