SmartTrans signs China mobile lottery deal

SmartTrans' (ASX:SMA) Chinese subsidiary will become exclusive provider of mobile phone lottery service V1for the nation's largest mobile operator

Transportation logistics software provider SmartTrans (ASX:SMA) has revealed its Chinese subsidiary has arranged to become the exclusive provider of a mobile phone lottery service for China Mobile.

SMA shares jumped 20.7 per cent to $0.035 during Monday's trading on news of the deal.

Under the agreement, SmartTrans Technology (Beijing) will distribute the V1 Mobile Telephone Lottery application, developed by VODOne's Beijing Caishijie IT Company, to China Mobile customers.

SmartTrans Beijing will also be granted the non-exclusive right to provide the app to other subscribers in China.

The company will receive a commission on all bets made using the version of the app accessible from the SmartTrans platform.

As well as allowing participation in lotteries run by the China Welfare Lottery Management Center, the app will also broadcast lottery-related news and information via VODOne's Lottery Lifestyle portal.

China sold 96.8 billion yuan ($14.6 billion) worth of welfare lottery tickets in 2010, according to state press agency Xinhua.

Victorian technology minister, Gordon Rich-Phillips, said the deal demonstrates that “an innovative Victorian company, assisted by the Victorian government, can make its mark in the global marketplace.”

China Mobile is the nation's largest mobile operator by subscribers.

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Tags mobilechina mobilemobile phone lotterySmartTrans

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