Webis Holding’s US subsidiary WatchandWager.com has signed a new contract with Pari-Mutuel Urbain (PMU) to continue offering betting on French horse racing, alongside video streaming of events.

The new deal runs until the end of 2016, extending the relationship between the companies which has been in place for more than two years.

“The quality of the product, coupled with the significant size of the pools, is attractive to international players, for which market liquidity is of a paramount importance,” the operator explained. “WatchandWager expects a significant impact to turnover through the remainder of 2016 as a result of this contract renewal.”

Webis managing director Ed Comins added: “It is an honour for WatchandWager to renew its partnership with the PMU and to be able to offer world class racing to our customers. It is particularly good time with the French core thoroughbred season approaching full swing right now, and culminating in the Prix de L'Arc de Triomphe meeting in October.

“We look forward to promoting French Racing to our international customers throughout this exciting time.”

Shares in Webis Holdings plc (Co.Data) (AIM:WEBIS) soared on the news of the renewal, albeit from a very low base, climbing 86.21 per cent to 1.35 pence per share in London early Tuesday.