Melbourne IT has signed a deal with Internet media giant Yahoo to provide domain names to Yahoo users.
"Yahoo is synonymous with the Internet, and we believe the credibility associated with the Yahoo brand will increase our domain name registrations and strengthen our position in the market," Adrian Kloeden, Melbourne IT's chief executive officer said in a statement to the Australian Stock Exchange.
Under the terms of the deal, Melbourne IT will provide .com, .net and .org domain names to users of the Yahoo! Domains, and backend registrations for users of other Yahoo services.
Melbourne IT gave no details on the length of its contract with Yahoo or projected volumes and revenues it hoped to garner through the deal.
The company, which was the darling of the Australian market when its shares touched AU$17.00 last year, has since seen its shares plummet to a 60 cent low in January.
