Reboot: Overseas agreements send small cap tech companies flying
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Here is Stockhead’s fortnightly wrap of all the news driving ASX small cap tech stocks.
Expansion overseas was a key factor in moving the needle for small cap ASX tech companies in the past fortnight.
A “transformational” move into China has seen shares in environmental management tech company Envirosuite (ASX:EVS) more than double, up 127 per cent to 29.5c.
Envirosuite offers a software-as-a-service(SaaS) platform which translates data into action in real-time.
It provides a range of environmental monitoring, management and investigative capabilities and is used worldwide by a range of clients in the mining, water, waste management, heavy industry, ports and agricultural sectors, as well as by governments looking to regulate industry in accordance with community well-being.
The company partnered with Zhigang Zhang, one of China’s most prominent leaders in the environmental protection sector, and it gives Envirosuite entry into a country with a high-profile public initiative known as “Beautiful China” to clean up toxic air and polluted water and soil across the country.
Similarly, GetSwift (ASX:GSW) shares have jumped 77 per cent to 63.5c on news of overseas expansion.
It announced in late August a master IT services and licence agreement with Heineken, at first deployed in Egypt and Malaysia.
The company has added the Philippines under that agreement in the last two weeks, and then to Pizza Hut restaurants in Jeddah, Saudi Arabia just a few days later.
Fintech Change Financial (ASX:CCA) features in the best-performing tech companies yet again, rising 42 per cent to 11.5c, after gaining 45 per cent when we last checked in.
Likewise, archTIS (ASX:AR9) has also enjoyed a good month, up a further 40 per cent. The company revealed it had landed a government contract with the Australian attorney general.
Falls across small cap tech stocks were relatively minimal in the past fortnight, with no major news moving companies downwards.
Here’s how ASX small cap tech stocks have performed in the past fortnight and year:
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