Thursday October 15, 03:31 PM
RPT-UPDATE 1-Microsoft camera deal powers OMG share jump
LONDON, Oct 15 (Reuters) - British firm OMG (LSE: OMG.L - news) announced it had received licensing from Microsoft (NASDAQ: MSFT
- news) to launch a small digital camera aimed at helping people with memory loss, boosting its shares on Thursday.
Called Revue, the camera is intended to be worn around a person's neck, recording everything they do and serving as a memory aid for people with Alzheimer's Disease.
'Memory is very visually indexed... and this device is really just trying to help an ageing population,' OMG Chief Executive Officer Nick Bolton told Reuters.
The camera could also be used to help people with autism or obsessive compulsive disorder and is expected to be delivered to researchers next month.
Microsoft and OMG have been working together on the U.S. firm's SenseCam technology for about five years and the licence agreement, for an undisclosed amount, means OMG can manufacture and sell devices incorporating the SenseCam technology worldwide.
Shares in OMG were up 19.51 percent at 23.3 pence at 1358 GMT, among the top gainers on London's junior AIM market.
The camera will make its first appearance at the annual Neuroscience Conference in Chicago Oct. 17 to 21.
(Reporting by Sharon Lindores; Editing by Jason Neely) Keywords: OMG MICROSOFT/
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