25 May 2012

New product cheer for Coms

18/07/2011 Robert Tyerman

Shares in business internet telephony specialist Coms (COMS) have surged on its launch of a new service for Apple iPad users.

The AIM-quoted company, chaired by its entrepreneurial key shareholder Jason Drummond, says its new VoIP service will enable Apple iPad users to make and receive telephone calls over their internet connections.

Arguing that more than 25 million Apple iPads have been sold worldwide with none hitherto telephony-enabled 'when they come out of the box', London-based Coms, steered by chief executive officer Richard Bennett, claims to see 'a huge new market segment' here.

The company, whose new service can be provided over the iPad's inbuilt WiFi or GSM modem, is offering customers a selection of monthly subscription packages starting at £5 and says it expects this to provide it with 'additional recurring revenues for years to come'.

Coms' tightly held and volatile shares, which have fallen from nearly 9p to 1.75p during the past 18 months, have bounced 60 per cent this morning to 3p, valuing the company at £2.6 million. They have speculative appeal.

Tags: AIM market, Apple ipad, Internet telephony, Jason Drummond, Richard Bennett

Sector: Technology Hardware & Equipment

Companies: Coms

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