By Adria Calatayud

 

Mirriad Advertising PLC said Friday that it has renewed a commercial agreement with Chinese tech giant Tencent Holdings Ltd. for a further two years and moved to a revenue-share model for both parties.

The U.K. advertising-technology company said the new agreement, which comes after two years of collaboration between the two companies, removes the previous minimum volume and exclusivity clauses and is in line with the commercial terms Mirriad has in place with other large partners in the U.S. and Europe.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

June 25, 2021 03:03 ET (07:03 GMT)

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