ASX Tech Stocks: Cybersecurity play Senetas touts more sales for Votiro ransomware protection, shares jump
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Jumping up 8.3% today is cybersecurity player Senetas.
Chairman Francis Galbally told the company’s AGM that group revenue is up 13% on a constant currency basis, and underlying profit before tax for the Senetas business segment up over 70% on a constant currency basis – putting the company in a “sound financial position.
Galbally said the company has invested over US$12m in Votiro since late 2018, and has a controlling shareholding of just under 70%.
“The rise of ransomware attacks is one of the most serious global cybersecurity threats and Votiro’s Secure File Gateway solution is effective at neutralising those threats – including zero day threats – with 100% efficacy, zero breaches and no latency – providing Senetas with immediate access to a high growth and scalable market opportunity,” he said.
“Votiro’s pipeline of sales opportunities is continuing to grow with a strong schedule of proof-of-concept trials through the December quarter and into 2022, and we expect to win some important new contracts within the next few months.”
“With this strong sales momentum, Votiro’s annual recurring revenue is anticipated to double in the 2022 calendar year.”
Adacel was up 7.43% in early morning trade.
The air traffic management and training provider announced it had signed a five-year US$ 4.5 million contract with with NAV Portugal for onsite Aurora Air Traffic Management (ATM) system support through local Field Service Representatives.
The contract also covers remote support from Adacel’s Montreal facility.
“We applaud NAV Portugal’s unwavering dedication to evolve its ATM systems to meet the ever-changing demands of air traffic management and look forward to supporting our customer on their quest to advance safety and efficiency in aviation,” Adacel CEO Daniel Verret said.
Down 0.1 was data centre services player NextDC.
The company reported that its confident of future growth opportunities and demand for data centre services – referring to data as “the new oil.”
“Data volumes continue to compound at exponential rates, a phenomenon that continues to double approximately every two years,” CEO and MD Craig Scroggie told the AGM.
“That data – gathered from literally billions of sources every second of every day – has to be migrated to and then ultimately reside in hosted infrastructure that is increasingly being provisioned under infrastructure as-a-Service delivery models.”
“Gartner forecasts that worldwide public cloud spend will grow 23.1% in 2021 to US$332.3 billion.”
“In Australia, Gartner forecasts organisations will spend A$10.6 billion on public cloud this year, an increase of 18.4% from 2020.”
“This survey also found that almost 70% of organisations using cloud services today plan to increase their cloud spending.”
“Gartner also forecasts Software-as-a-Service (SaaS) to reach A$5.7 billion in Australia in 2021.”
“These are trends that have colocation data centres and complex cloud interconnection services such as those provided by NEXTDC at their heart.”