Tech: Bigtincan maintains dealflow with new $6.2m contract
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IT company Bigtincan Holdings (ASX:BTH) has landed another seven-figure contract abroad.
The software-as-a-service (SaaS) provider advised the market that it won a competitive tender process to deploy its software for US-based DXC Technology Services.
DXC is an end-to-end IT services provider, with a global customer base of around 6,000 companies in 70 countries.
The deal with Bigtincan is a two-year contract which the company said would generate revenues of $6.2m, with the option to extend for a third year.
Bigtincan said the deal was evidence of the validity of its partner-based distribution strategy, where its AI-based software could be used to streamline the IT operations of business-to-business (B2B) customers.
The contract is the latest in a string of deals that Bigtincan has landed in recent months, including a $2.8m deal with Nike in September followed by another $2.8m contract with beauty company Sephora in Q4.
Markets have taken notice of those new revenue streams, and investors sent the stock above the $1 mark this morning for an early gain of more than 15 per cent.
Shares in the company climbed above 80c back on January 22 when it lodged a strong 4C filing for the December quarter.
Stockhead has contacted Bigtincan for comment to provide further details on the DXC deal, including the explanation of how its technology will be integrated onto DXC’s platform to enhance efficiencies.