Monteray Mining (ASX:MRY) has received an ASX price and volume...

Monteray Mining (ASX:MRY) has received an ASX price and volume query for a share price gain to an intra-day high of $0.029 yesterday from a close of $0.02 on 6 January 2015.

The company recently signed a binding term sheet to acquire Norwood Systems, which developed a mobile roaming platform that has been adopted by users from more than 30 large corporations.

Monteray said it was unaware of any information concerning it that has not been announced.

It noted that it plans to soon release a non-material announcement regarding a staff appointment at Norwood and extension of the Norwood due diligence period.


Norwood Systems

In December, the company signed a binding term sheet with the major shareholder and board of Norwood Systems to acquire the mobile technology company.

The proprietary COrporate ROaming Network Access (CORONA) platform is one of the world’s most advanced alternative roaming solutions to reduce mobile phone voice roaming charges for corporate travellers, while improving connectivity to their corporate telephony networks.

This is live and has been adopted by over 30 large corporations. Its first customer is iiNet Limited (ASX:IIN), one of Australia’s largest Internet service providers.

Others include representatives from six S&P/ASX 200 companies.

CORONA claims to offer superior call reliability compared to regular Voice over Internet Protocol (VoIP) services such as Skype and Viber.

It reduces corporate roaming charges by more than 70% and can deliver potential savings to companies amounting to millions of dollars per annum, based on their roaming usage.

The corporate voice roaming segment that CORONA addresses is forecast to reach US$45 billion by 2018, growing at a rate of 12% per annum.

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