IOD trade ideas
IODM Limited Western Union PartnershipIODM Limited shares rallied by more than 30% on the announcement the company has entered into a strategic partnership with Western Union. A deal with a global leader in cross-currency paves the way to expand its footprint into the Asia Pacific, and the UK.
Under the terms of the agreement, IODM products will now work with Western Union solutions to provide customers an efficient way of processing payments. IODM expects the partnership to advance the awareness of its products into new and exciting markets as both companies move to benefit from the partnership.
IODM CEO Mark Reilly commented, “This is an exciting day for us as it gives further validation for the products that we offer. Our staff and officers have worked hard to make this achievable in a short space of time, and I thank Western Union Business Solutions for the professional manner that they have displayed, underlining why they have been one of the most dynamic and innovative companies for the past 168 years.”
