Location data verification company, Location Sciences Group (AIM:LSAI) , has signed a global master service agreement with one of the largest global advertising holding companies for its anti-fraud software.
The AIM-listed group said the deal follows multiple tests carried out in the fourth quarter of 2019 using its location verification platform, Verify.
The group has also signed a framework agreement with the world's largest independent media agency, Horizon Media, which the board believes is representative of “another significant step” towards increased market adoption of this kind of software.
Horizon is testing the company’s verification technology with the intention of establishing a leading position in the industry in tackling the transparency and accuracy of location data.
The accuracy of location data remains a global problem in the digital advertising industry with over 50% of inaccuracies and fraud found within location advertising campaign data.
Shares in Location Sciences Group were trading 12% higher at 1.4p during Tuesday trading.
Horizon Media has already been able to deliver significantly improved data quality and transparency as a result of locally targeted test campaigns with Location Sciences.
“The key for us now is to keep building awareness of the benefits of location verification with brands by leveraging these new agency agreements,” said Mark Slade, CEO of Location Sciences.
Horizon added that it is now looking to expand its partnership with Location Sciences across all location-based campaigns to reach all of its clients.
“Furthermore, they (partnerships) demonstrate that the relevant stakeholders in these large multinational agencies recognise the potential of, and back, our technology and capabilities,” said Slade.
He added, “While we are still relatively early in our journey as a business, these agreements give us access to a large pool of location advertising spend.”
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