GetSwift makes acquisitions in software and home delivery tech, shares rise 11pc
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High-profile delivery tracking tech company GetSwift has made a couple of acquisitions in the software and home delivery spaces, sending its shares up 11 per cent this morning.
GetSwift (ASX:GSW) operates in the so-called Software-as-a-Service (SaaS) sector, its technology offering businesses delivery management automation. It listed in late 2016, rose to highs of nearly $4 a share in 2017 and then crumbled when investigations from the Australian Financial Review revealed it was breaching continuous disclosure obligations.
It came out of a trading halt Wednesday morning to announce it had acquired Delivery BIZ Pro and Scheduling+, both North American tech platforms.
Delivery BIZ Pro provides cloud services for businesses with recurring product orders with a focus particularly on the home and commercial delivery sectors, while Scheduling+ is another cloud-based service for back office tasks.
GetSwift CEO Bane Hunter said the former acquisition was a “match made in heaven” while the latter would provide its customers a solution to employee scheduling headaches.
It will no longer use third-party scheduling solutions in its technology.
The company has also started using a disclaimer at the bottom of its ASX releases reading: “GetSwift is an emerging growth company and is subject to a variety of risks. The company is not yet profitable, and there can be no assurance that it will achieve profitability. The company’s business and a variety of investment considerations are discussed in more detail in the company’s filings with the ASX. Investors are encouraged to review the more complete information contained in such filings.”