Shares in Emerge Gaming (ASX: EM1) have hit a high this morning following the announcement that the esports business has achieved a new milestone.
The listed Australian company has completed network billing integration across all major South African Telcos, supporting its gaming platform 'Arcade X'.
The integration opens the business up to more than 50 million paying subscribers which use the mobile networks.
The integration with the country's largest three players, MTN, Vodacom, and CellC, will provide Emerge Gaming with access to 80 per cent of South Africa's population.
The announcement sent Emerge's share price soaring. Emerge stock opened at $0.02 per share and rose by as much as 40 per cent during early trade. It's currently trading up 12.5 per cent at the time of writin (3:11pm AEST).
Following the successful integration of Arcade X in South Africa, Emerge Gaming's CEO and executive director Greg Stevens says the business is now in a prime position to launch globally.
"Following airtime billing integration with South African telcos and our launch with eMedia Holdings Group, our corporate partnerships are set to drive significant high volume of new user acquisitions in the near term across multiple devices and networks," says Stevens.
"We will use this experience to roll out the proprietary 'Arcade X' technology to markets across the globe."
"With the Emerge Gaming's proprietary integrated tournament services and with strong network partnerships now established, we are set to secure corporate agreements with major global companies looking to gain eSports marketing exposure."
The Emerge Gaming team has been involved in an "aggressive" customer acquisition strategy in South Africa leading up to the launch in the country.
This includes its latest partnership with eMedia Holdings, a media conglomerate listed on the Johannesburg Stock Exchange.
Business News Australia
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