Tesserent’s shares have skyrocketed after it announced it was the target of a $176 million takeover deal. Meanwhile, two fellow tech stocks announced big news.
Tesserent (ASX:TNT) and French multinational Thales have entered a binding scheme implementation deed (SID) at 13 cents/share, a per cent premium to the closing price on Friday.
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Thales advised the TNT business would continue to be known as Tesserent, and its visual identity would incorporate the “Cyber Solutions by Thales” tagline.
In its announcement, TNT said it would become the lead cybersecurity offering of Thales Australia and New Zealand.
The TNT board unanimously recommended shareholders vote in favour of the deal at an anticipated meeting in September.
Other tech stocks with news
GRATIFII (ASX:GTI)
GTI has signed a three-year contract with key client RACV to deploy its SaaS platform with an expanded range of rewards.
There are also options to renew for a further two terms of three years.
Neat Ideas, GTI’s rewards business, has been a provider to RACV’s 2.1 million members for more than 10 years.
Under the new contract, GTI expects to receive an annual licence fee of up to $360,000, with an expected 12-month inflow of $6 million from RACV and its affiliates and $2.5 million in cross-sell revenue.
GTI is confident it will deliver positive cashflows within FY24 with the additional revenue from the expanded rewards and services products offered.
“We are pleased to have renewed this important contract with RACV, and to further expand this relationship,” CEO and MD Iain Dunstan said.
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To accelerate further growth and the deployment of GTI’s SaaS platform, as well as other initiatives, the company said it is also undertaking a capital raise.
The raise consists of a $1.84 million unconditional placement to institutional investors of 115.3 million new fully paid ordinary shares (Tranche 1) at an issue price 1.6 cents/share, being the closing share price on June 7 2023.
GTI has entered into a binding agreement (subject to shareholder approval) to raise a further $905,000 with an offering to institutional, professional and sophisticated investors (Tranche 2), which will also be priced at 1.6 cents/share.
Bombora Special Investments Growth Fund, GTI’s largest shareholder, has committed $250k in the Tranche 2 component of the equity raise.
NETLINKZ (ASX:NET)
NET has inked a strategic partnership with major telecommunications company PT&T Corp, based in the Philippines, to use its product offerings to improve connectivity and accelerate digital transformation across its various customer sectors.
The company said SMEs operating in remote regions of the Philippines would be able to leverage NET’s Starlink’s satellite internet, and overcome geographical barriers impacting connectivity.
The PT&T/Netlinkz partnership will enable marine industry stakeholders to leverage the power of reliable and high-speed connectivity.
NET said the partnership would bring significant benefits to the Philippine Islands, addressing the challenges of reliable connectivity that are often encountered in the region.
The company said the partnership would bridge the connectivity gap, empowering the islands with robust networking solutions facilitating seamless communication, enabling access to essential services, and supporting economic development and growth.
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“The signing of the partnership agreement with PT&T Corp is further proof that Netlinkz has the product and service offerings capable of delivering connectivity and digital transformation enhancements that benefit multiple users of telecommunication services,” NET MD James Tsiolis said.
James Velasquez, president and CEO PT&T Corp, said the company was thrilled to introduce Starlink to the Philippines, providing a dependable internet solution for customers who require reliable connectivity.
“Through our partnership with Netlinkz, we can offer high-speed internet access to areas where traditional broadband services are limited or unavailable,” he said.
BEAM COMMUNICATIONS (ASX:BCC)
BCC said shipments of its Iridium GO! executive package to Iridium Communications Inc (Nasdaq: IRDM) were running well ahead of schedule.
The company has, within six months of a deal being struck, completed delivery of the first year’s minimum commitment against the five-year $US12 million contract.
It also has received a further drawdown for more units to be built and shipped.
By the end of FY23, BCC will have delivered 40 per cent of its commitment, with the additional drawdown request expected to allow it to lift that to 80 per cent by the end of FY24, well ahead of schedule.
“The latest request for additional Iridium GO! exec units from our longstanding partner, Iridium, supports our expectation that we will secure additional orders for the device that is above and beyond the $US12 million initial value of our contract,” BCC managing director Michael Capocchi said.
“The demand for Iridium GO! exec also demonstrates the strong growth in the global mobile satellite communications space – an area of the market that Beam specialises in.”
Iridium GO! is a satellite-based device providing global voice calling and text messaging solutions for smart devices.
This content first appeared on stockhead.com.au
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