ASX Tech Stocks: Wooboard jumps 100pc on app for US$52.8 billion corporate wellness market
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SaaS player Wooboard is up 100% today off the back of its September quarterly detailing the planned launch of its a new platform ‘Sixty’ targeting the corporate wellness and consumer wellness mobile app sectors.
Not a bad move considering the corporate wellness global market was valued at US$52.8 billion last year and is expected to expand at a compound annual growth rate of 7% from 2021 to 2028.
Plus, individual wellness mobile app spending is growing 15% year-on-year and is forecast to reach US$1.6 billion by the end of 2021.
Sixty will target the lion’s share markets of the US, EMEA and APAC and the new website trysixty.com will support expressions of interest and take demo bookings from corporates and organisations.
The company is also in negotiations with international social media influencers and industry experts in the fields of fitness, mental health and wellness to enable it to provide high quality content within the app.
Smart-locking technology player TZ Limited was up 10.34% after announcing it had received over $1 million in new contracts in Australia.
The company just received the first of many purchase orders for the supply of TZ Electronics and Software Services for 2,800 smart lockers for the new high rise Chevron Corporation headquarters in Perth, Western Australia.
This contract comes off the back of TZ successfully being awarded the tender to supply hardware and software solutions to support 2,000 Smart Storage Lockers at the global headquarters of CSL Ltd in Melbourne.
The company says it continues to be a valued supplier to the data centre industry in Australia, and has seen a doubling of its data centre sales in the last 12 moths.
Both NextDC’s new S3 site (still under development) and Macquarie Telecom’s IC3, have placed orders for the supply of TZ’s DC Cabinet electronic locking and access controls.
CEO Mario Vecchio said the company has benefited from changes to the workplace post-COVID.
Security technology provider Hills dropped 3.44% today after announcing plans to exit the loss-making New Zealand security distribution business to focus on cash generation and areas of long-term growth potential.
“After a comprehensive review of our New Zealand operations it was clear that our growth plans were not being achieved and the fundamentals of the business required a substantial multi-year turnaround to become profitable,” Hills CEO David Clarke said.
“In our view the significant time and resources required for a turnaround in New Zealand are better invested in our fast-growing Health Solutions division, expanding Hills Technical Services operations, and improving the performance of the Australian security and IT distribution business.
“I acknowledge this is a difficult time for our hard working and committed New Zealand staff. The company will be supporting them closely throughout this process.”
The company says the change does not include, and has limited impact on, the New Zealand operations of the Technical Services division that provides installation services for Sky TV, or the Health Solutions business.