ASX Tech Stocks: Zoom2U acquires Local Delivery shopify app to expand global footprint
Link copied to
Tracking delivery software player Zoom2U was up 17.6% in early morning trade today.
The company is set to acquire Local Delivery Shopify App for A$880,000 from Enum Pty Ltd.
The platform allows e-commerce businesses using the Shopify platform to embed functionality to enable their customers to select a desired delivery date and time into their check out process.
Z2U says the acquisition will expand its footprint into North America and the UK and accelerates the offering Locate2u subscription-based software to existing and new Local Delivery customers.
Essentially, the schedule produced by Local Delivery can be automatically fed into Locate2u, allowing e-commerce businesses to optimise routes, track and communicate with drivers and provide recipients of deliveries with estimated times of arrival.
The app currently generates Annual Recurring Revenue (ARR) of around A$145,000.
Up 9.5% today was Xreality Group (previously Indoor Skydive Australia) which has changed its name and announced the upcoming launch of FREAK Entertainment’s first in-house developed virtual reality game – created by recently acquired VR studio Red Cartel.
The Cowboys vs Aliens four player free roam VR game will first pilot at FREAK Bondi in the December-January school holidays, then roll out to all venues in Q3 FY22.
The game does not require a backpack computer and will be targeted toward younger audiences that typically can’t play in the Arena due to the weight of the equipment and the theme of the game.
The company plans to release a minimum of games over the next 12 months, which it says will deliver incremental value to the company directly through lowering game licensing costs, broadening the customer demographic, and building company owned game IP.
Space-enabled radio frequency Reconnaissance data-as-a-service company Kleos was up 4.3% today.
The company announced its patrol mission (KSF2) satellites are on track to launch onboard the Transporter-3 SpaceX mission in January 2022, successfully passing the final technical milestone with satellite builder Innovative Solutions In Space (ISISPACE).
The satellites feature enhanced hardware and software, significantly increasing data collection capability by an additional 119 million km2 per day.
“Each new mission features enhanced hardware and software capability, leveraging the learnings of earlier launches,” Kleos CEO Andy Bowyer said.
“The improved collection capability of the Patrol Mission is key for our government and commercial data subscribers.
“The value of our independent geolocation data grows in line with revisit rates, as it enables subscribers to use the data to establish pattern of life behaviour or tip and cue with existing datasets to improve the identification of illegal maritime and land-based activity”.
Up 3.6% today was Cirrus Networks, who signed a partnership agreement with global IT cloud security and analytics company, Gigamon, to provide a superior suite of managed security services through Gigamon’s Hawk Cloud Visibility and Analytics Platform.
The solution can access all data in motion from any source, including containers, before optimizing it by as much as 66% and then feeding it through the customer’s existing security tools.
This process makes it easier for the security tools to focus on the data that matters and more effective in identifying security risks, the company said.
The partnership will initially target the Government, Mining, Financial Services and Education sectors, with broader business metrics expected to include in excess of $4 million of revenue, per annum.