Australian tech firm DUG gains on licensing deal with US-based Baltimore Aircoil

DUG Technology

07/08/2024 01:26

** Shares of Australia's DUG Technology  DUG.AX  rise as
much as 5% to A$2.75
    ** Stock marks best intraday pct gain since July 10 and hits
its highest levels since Aug 1
    ** The software development firm signs an exclusive
licensing agreement with U.S.-based firm Baltimore Aircoil
Company
    ** Licensing deal for the patent rights of co's
immersion-cooling technology, DUG Cool
    ** Licence includes right to use, manufacture, market and
sell the licensed IP and will be used by BAC to manufacture and
sell immersion cooling tanks
    ** Stock has risen 37.9% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))