ASX Tech Stocks: Dug Technology (ASX:DUG) jumps 12.5% after scoring marine vessel software deal
Link copied to
Software tech provider Dug Technology (ASX:DUG) led the ASX tech stocks today, rising 12.5% off the back of an agreement with marine geophysical services provider PXGEO to provide software onboard their seismic vessel.
The company will provide its DUG Insight software for real-time data acquisition quality control and onboard data processing and visualisation.
The 36-month contract is expected to result in around US$900,000 of revenue (over the period) with Dug having the option to equip further vessels as PXGEO grows its fleet.
Novonix (ASX:NVX) +10.26%
The battery materials and tech company jumped 10.26% today after news speciality coke manufacturer Phillips 66 is acquiring a 16% stake in Novonix.
“Phillips 66’s investment will provide us with the capital needed to support growth and ongoing R&D as we continue to scale our synthetic graphite production and develop new technologies for higher-performance energy storage applications,” Novonix CEO and co-founder Chris Burns said.
Reckon Limited (ASX:RKN) +8.25%
Software technology company Reckon’s share price rose 8.25% today after announcing revenue for the half-year of $37.5 million with 88% from recurring subscriptions.
The company also invested $10 million in the development of new cloud-based products during the period, many of which are expected to launch during the current period.
Megaport (ASX:MP1) +3.05%
Megaport jumped 3.05% after announcing plans to acquire AI-powered multicloud and edge application orchestration company InnovoEdge via its wholly owned US-registered subsidiary.
“By integrating the InnovoStudio service with our portal and software defined network, we will provide customers and partners with greater visibility and control of networking, cloud, and service resources,” CEO Vincent English said.
The company also announced record performance in FY21 – with annual revenue increasing 35% to $78.28 million.