ZipTel Limited announced that it has entered into a collaboration agreement with Lateral Pty Ltd. ("Lateral"). Under the collaboration agreement, ZipTel and Lateral will work together to deliver bespoke software development solutions for third parties. The agreement follows on from the Company flagging its intention to expand its software development offering to prospective customers, leveraging the Company's strong app, software development and telephony experience. ZipTel's specialised experience will add to Lateral's already extensive full-service capabilities. Together, the companies will look to leverage their capabilities and contacts to generate new business and new engagements which will be profitable and beneficial to both companies. The split of revenue between the companies will be agreed per engagement, based on the source of the engagement and the development resources used. Although the financial impact of the collaboration agreement is not determinable at this time, ZipTel intends to build up a portfolio of engagements and clients and will update on these events in due course.