Just two days into this week and three ASX small cap tech deals are already in the works.
COSOL (ASX:COS), Sensera Limited (ASX:SE1) and Intiger Group (ASX:IAM) have this week announced they are either acquiring or selling businesses.
Enterprise asset management
Enterprise asset management software stock Cosol announced it was paying $US1.5m ($2.1m) in shares and cash for to acquire AddOns.
AddOns is a Denver-based company that also offers software solutions to help asset intensive industries, such as mining and infrastructure firms, manage their assets.
The enterprise asset management space is projected to grow to $US25.9bn by 2030.
Cosol said within that context, the purchase was complementary and aligned with its geographic expansion ambitions.
“The enhanced capability and track record which AddOns brings establishes a strong basis to aggressively undertake larger and more complex engagements, previously the domain of the software vendors such as ABB, in our own right,” chairman Geoff Lewis said.
The company also promised the transaction would be earnings accretive and contribute positively to its FY2021 result.
Cosol is 2020’s most successful ASX IPO, up over 200 per cent since listing.
Cosol (ASX:COS) share price chart
Sensera sells indoor data subsidiary
Internet of things (IoT) tracking tech small cap Sensera announced it was selling its indoor data subsidiary, Nanotron Technology, to US-listed small cap tech play Inpixon.
Inpixon is a pureplay “Indoor Intelligence” company which essentially ingests data from various IoT sensors and translates them into insights.
The sale will reap $US8.7m and Sensera says it will eliminate debt and help it focus on its primary MicroDevices (MD) sensor business.
Shares in Sensera tumbled in February and March off the back of the loss or deferral of several orders.
This morning’s announcement was accompanied by news its MD business witnessed a 41 per cent revenue spike last financial year and the company expected further growth this year.
Sensera shares climbed 17 per cent today.
Sensera (ASX:SE1) share price chart
Intiger enters reg-tech
Yesterday, while half of Australia enjoyed a public holiday, financial software company Intiger announced the reverse takeover of Sydney-based regtech Complii.
Complii’s solution aims to do away with paperwork for AFSL licence holders such as financial planners and stockbrokers.
It also has an online mortgage broking service called Shroogle.
The deal will see Intiger change its name to Complii and raise $5-7m.
Shares have been in suspension for five weeks while the deal was finalised. They will remain suspended until shareholders approve the deal.