Why Starcom has just leapt by 150%

Starcom has surged by as much as 150% to an eight-month-high after the remote tracking expert signed a potentially lucrative deal with the largest Porsche dealership in Germany.

It's taken over a year of relationship-building and testing, but now Porsche Zentrum Baden Baden will now offer Starcom's Helios TT vehicle tracking system as a dealer-fitted extra. It sold over 2,500 new Porsches in 2014, and Starcom hopes the 26 other Porsche dealerships in Germany will follow suit.

Clearly, expectations are high. Shares in the company - set up a decade ago and listed on AIM since February 2013 - traded at just 6p on Christmas Eve, but on Monday moved to within a whisker of 15p.

"This new partnership is a significant milestone for us," said Starcom chief executive Avi Hartmann. "Working with Porsche, one of the world's leading luxury car brands, will hopefully increase Starcom's brand and we truly believe this could be the recognition Starcom needs to become a major force in the European telematics market, allowing us to set the standard for vehicle tracking."

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