The Updater Inc (ASX: UPD) share price has been one of the biggest movers on the market on Tuesday.
In late afternoon trade the US-based relocation software platform provider's shares are up almost 15% to $1.31.
Why are its shares higher?
This morning Updater announced the results of a pay TV and internet pilot program with US telco giant AT&T.
According to the release, users exposed to Updater's communications purchased a recommended Pay TV product at a 224% higher rate than users not exposed to its communications.
Management believe the results demonstrate that Updater can provide tremendous value to both Pay TV and internet partners and users looking to purchase these services when they relocate.
As a result of its success, Updater will commence selling business products in the Pay TV and internet vertical in early 2018.
The Updater share price is now up over 200% year-to-date.
