ASX Tech Stocks: Future First Technologies jumps after EagleSoft nabs contracts in Australia and New Zealand
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Top of the tech stocks today is Future First Technologies (ASX:FFT), which rose 9.8% after announcing three new contract wins totalling $305,000 from its recently acquired AI-powered intelligent data capture software (EagleSoft).
The company said the deals are part of its plans to expand its international revenue base in FY22 for its SaaS intelligent asset management platform (Asset Vision) – as well as integrating the automated inventory and defect detection capability of EagleSoft and cross selling to clients.
“These contract wins tell a much bigger story than the initial revenue value they represent,” Asset Vision CEO Damian Smith said.
“One of these contracts positions EagleSoft’s automated inventory and defect detection capability to be utilised during the bid process for a large road maintenance contract in New Zealand.”
“If the bid is successful, this could lead to a much larger ongoing engagement.”
Plus, EagleSoft also won work with an existing client to undertake an audit of road safety barriers – which represents a new service offering for the company.
“Finally, we are thrilled that EagleSoft will be used alongside Asset Vision on a selection of Ventia’s maintenance contracts in Victoria, NSW and Queensland; a powerful test of our end-to-end intelligent asset management platform,” Smith said.
“I am confident this will pave the way to extend EagleSoft’s use across more than 120,000 kilometres of road network currently maintained within Asset Vision.”
Elsewhere, software provider to the energy, water and communications industries Hansen Technologies (ASX:HSN) fell 8.43% today after BGH Capital withdrew its unsolicited proposal to acquire the company for $6.50 cash per Hansen share.
In addition, the co-operation agreements entered between BGH Capital and Andrew Hansen – and separately Othonna Pty Limited (as trustee for the Hansen Property Trust and substantial shareholder in the company) – have also been terminated.
“Hansen reported a record result for the group across all key metrics in FY2021,” chairman David Trude said.
“The Hansen business continues to go from strength to strength.”
“We were particularly pleased with the strategic customer wins during the year including Telefonica, DISH, Western Power and Nautilus Solar.”
“Significant new business wins, coupled with a continued focus on our aggregation strategy, reinforce our commitment to, and confidence in, our long-term revenue target of $500 million in FY25.”