Bango PLC (AIM:BGO, OTCQX:BGOPF) is believed to have signed with a leading multinational technology company is believed to be Apple, according to City analysts.

The company said will provide carrier billing and bundling services for its App store payments and subscriptions services globally for its unnamed partner.

House broker Berenberg said, “considering the company currently partners with Google Play, Microsoft’s Windows Apps, Facebook App Center, Amazon Appstore and Samsung Galaxy Apps, we speculate that it has signed this agreement with Apple”.

Berenberg said the agreement “further reinforces our confidence in Bango’s investment case and is evidence that the company’s platform is indispensable to the world’s largest merchants.”

With demand strong and the share price remaining suppressed, the broker reiterated its ‘buy’ rating and 300p target price.

Fellow house broker Liberum agreed that the contract was likely to be with Apple.

“This agreement is further evidence of the attractiveness of Bango’s high quality technology solutions,” Liberum said.

“This agreement is not expected to impact FY22E forecasts. We leave our FY23E forecasts unchanged, and we expect management will provide further information on the impact to FY23E forecasts and beyond at a later date. We believe over the medium/long term we think the revenue opportunity from this agreement could be substantial.”