Flexiroam Limited (ASX:FRX) has announced today that its wholly owned subsidiary, Flexiroam Sdn. Bhd., has entered into an agreement with Cloud telecommunications provider Voxbone. The agreement will enable Flexiroam’s Roam8 mobile application to rapidly expand its international reach whilst avoiding the costs of working with multiple carriers.
Flexiroam, listed on the ASX on 16 June 2015, is a Malaysian-based telecommunications company offering services internationally. The company offers a range of products allowing customers to remain connected abroad without attracting significant connection fees or tariffs. Its main products are Flexiroam roaming pass and Flexiroam SIM cards, which allow travellers to use their local numbers with unrestricted voice and data access at their destination.
Voxbone specialises in providing virtual local phone numbers. Its services enable cloud communication providers, international carriers and enterprise contact centres to extend the reach of their voice networks internationally.
Flexiroam’s Roam8 service allows users to own multiple international numbers, in one application, eliminating the need for international roaming IDD calls. Users can then call any global network without charge and overseas contacts can reach the user using the local number with local rates. Voxbone will increase Roam8’s international capabilities to over 55 countries, providing users with virtual local phone numbers.
Jef Ong, Flexiroam CEO said “This is a landmark agreement for Flexiroam. The aim of the Roam8 is to eliminate roaming charges and bill shock for travellers when they are abroad by working with Voxbone, we can provide our customers with voice and SMS services to over 55 countries at the local rate.”
Flexiroam has seen a fall of 25 per cent in its share price since listing in mid-June. The company announced a marketing campaign with PayPal last week and experienced some short lived positive sentiment, however has seen further decline over the weekend. The agreement with Voxbone will create enhanced capabilities, however time will tell if Flexiroam can turn that into profits.
Author: Ben Visser
Jul 14, 2015
Ben is a Wise-owl equity analyst focusing on ASX blue-chips stocks. Ben has a Bachelor of Business in Finance majoring in property valuations and management. In his role at Wise-owl Ben conducts in-depth fundamental and technical analysis which helps him to find profitable investment opportunities on the ASX and abroad.