Spare Backup Inc. (OTC: SPBU) shares are seeing huge activity in trading today. At last check, SPBU shares were down 6.67% to $0.0420 on above average volume of 1.17 million. The stock has fallen more than 14% in the last three trading sessions.
Spare Backup, which provides data backup and security software for smartphones, tablets and PCs, recently announced that it expanded the territory of one of its major European distribution partners by including Turkey, a country with more than 60 million mobile customers.
SPBU, along with its partner, targeted major warrantee and insurance providers in Turkey. The company also targeted large mobile telecommunications companies in the country.
Cery Perle, CEO of Spare Backup, said that as SPBU expands its global footprint, which includes a progressive rollout of partner product launches in North America and Europe, it is important for the company to also develop strategic relationships in emerging mobile markets. Perle said that Turkey is a country where Internet and mobile use is exploding and SPBU intends to capitalize on this growth through partnerships with key mobile service providers.
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