AI knowledge platform Knosys leaps 190pc on SingTel deal
Link copied to
Knowledge management platform Knosys rocketed 190 per cent in Monday afternoon trade after announcing its biggest ever single contract with Singapore telco SingTel.
The $6 million deal will see Knosys’s KnowledgeIQ platform deployed across SingTel’s Singaporean business and Australian subsidiary Optus.
The shares (ASX:KNO) took off in Monday afternoon trade, putting on more than 10c to 16c by 2.30pm AEDT. The stock settled back to 12c at the end of the day — still up 118 per cent.
The contract is the biggest for the operator of staff and customer management solutions, and is set to span five years and three years for Singtel and Optus respectively, beginning immediately.
Chief John Thompson told investors the deal was key in cementing focus on three verticals of Government/Legal, Telco and Finance/Banking as they expand into south-east Asia.
“This contract illustrates the value we can add to many customers and the superiority of our market leading KnowledgeIQ technology. We can enable our customers to drive extra revenue, save them time and expense, and allow them to make more informed decisions.”
“We are on target to achieve our double-digit user growth target for FY18 which I know our investors have been patiently waiting for.”
Their KnowledgeIQ platform uses artificial intelligence to delivery personalised information to staff and customers optimise productivity and engagement.
In December Knosys announced a $320,000 deal with SBS Bank in New Zealand.
The shares have traded between 4.6c and 18c in the past 52 weeks.