ASX tech stocks: K2F jumps on 5-year software contact with Sibanye-Stillwater
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Leader of the tech stocks today is K2fly (ASX:K2F) which jumped 7.84% after announcing it had signed a 5-year contract with Sibanye-Stillwater for its Decipher tailings management software.
Sibanye-Stillwater will roll the solution out globally across its 38 tailings facilities as part of its commitment to the International Council on Metals and Mining (ICMM) to comply with the Global Industry Standard on Tailings Management.
The contract will generate annual recurring revenue of AU$475,000 and the total contract value is AU$2.85m (including non-recurring implementation fees) over the initial five year term.
The company said its the fifth ICMM member to sign on to the platform – demonstrating increasing demand and growth potential for Decipher.
“This is our first solution with Sibanye-Stillwater and we are very proud to be working with another precious metals producer and another ICMM member that take their ESG commitments very seriously,” CEO Nic Pollock said.
“K2fly now works with five of the top ten gold producers globally.”
Other ASX tech stocks with news out today
Wireless tech company Etherstack jumped 4.62% off the back of news its US subsidiary has secured an initial order with telco giant AT&T.
The US$420k (~AU$575k) order covers the supply of Etherstack software licences and equipment, plus associated integration, and professional services.
ESK specialises in developing, manufacturing, and licensing radio technologies for wireless equipment manufacturers and network operators around the globe.
“We are extremely honoured to secure our first direct deal with AT&T,” Etherstack CEO David Deacon said.
“It is a great achievement for Etherstack’s team and technology to be able to supply the world’s largest and most venerable telecommunications company.
“We look forward to building a lasting relationship on the back of this initial order.”
Call recording and voice intelligence cloud software company Dubber was up slightly today after announcing plans to acquire AI tech company Notiv.
Notiv is a developer of innovative cloud-native AI-based products that turn meetings into transcribed notes, summaries, signals, and actions.
The AU$6.6 million acquisition (cash and equity) is expected to add to the company’s revenue-generating ability and expand Dubber’s customer base, DUB said.
Dubber CEO Steve McGovern said the company believes AI has “a part to play as a standard feature of every call and conversation.
“With Notiv, Dubber will now have the ability to automatically take notes and create action items on every call,” he said
“We are confident that our telecommunications carrier and service provider partners will see enormous potential for revenue-generating value-added services for their customers at scale.”
Notiv co-founder and CEO Chris Raethke said the ability to roll out Notiv globally with the world’s leading service providers is “an unmissable opportunity.”
“The chance to join the Dubber growth journey at this time and expand Dubber’s AI and NLP capabilities is exciting for all of us,” he said.
archTIS dropped 3.94%% today off the back of news its acquiring customers, technology, and European operations from cyber security player Cipherpoint’s (ASX:CPT) software division.
The software division includes the intellectual property to cp.Protect, an advanced SharePoint on-premises data encryption solution, as well as cp.Discover, a data discovery and classification platform.
CPT’s existing customers include DHL, Bank of Finland, California State University, Arthur J Gallagher, US DARPA, Singapore Power, Singapore Tote and Acronym Media.
“The bolt-on acquisition represents excellent value for archTIS shareholders (~3.8x current annual recurring revenue) with the delivery of many long-serving, high profile customers and partners, as well as extending markets in Europe and Singapore,” archTIS Global COO and US president Kurt Mueffelmann said.
“In particular, the asset purchases will provide archTIS with unique data discovery and classification technology that are complementary to NC Protect and can be cross-utilised with our existing technology stack.
“Moreover, the industry-ready Cipherpoint staff will slot readily into our active EU/America offices and bolster our sales efforts in these markets.”
archTIS will pay $1.4 million in cash for the asstes, with a further consideration of up to $1 million to be paid based on total contract values of contracts assigned to archTIS as of 31 March 2022.