Shares in ASX-listed software venture Altium (ASX: ALU) jumped 40% after the company rejected an unsolicited $5 billion takeover offer from NASDAQ-listed multinational software behemoth Autodesk. The non-binding, indicative and unsolicited offer from for 100% of Altium at A$38.50 per share, by way of a scheme of arrangement, was rejected as “significantly” undervaluing the business,… Read more »
ASX-listed data security company IXUP Ltd (ASX:IXU) has scored a software bargain from the administrators of failed tech startup Data Republic, buying the data exchange’s intellectual property and IT for just $3 million. The purchase price represents a 94% discount to the almost $50 million Data Republic spent building the platform. The acquisition came from… Read more »
Xero’s Australia and Asia managing director, Trent Innes, has called time on his eight-years leading the ASX-listed venture. The cloud-based accounting platform’s executive GM of global sales, Joseph Lyons, will step up to the MD role to start the new financial year on July 1. Innes will remain in the business until September to oversee… Read more »
Restaurant tech venture Dragontail Systems (ASX:DTS) is being acquired by the US parent company behind KFC and Pizza Hut, Yum Brands, in a deal worth $93.5 million. Domino’s has been Dragontail’s leading customer in recent years. Its machine learning cameras monitor pizza quality and is the technology behind Domino’s Pizza Checker, as well as the… Read more »
Airtasker is tapping investors for more funds, seeking an additional $20.7 million just two months after raising $83.7 million during the company’s float on the ASX. The company (ASX: ART) is also spending A$3.4 million (US$2.6m) to acquire 10-year-old US services marketplace Zaarly, which has nearly 600,000 customers and 900-plus service providers, to accelerate its… Read more »
Shares in online retailer Kogan.com have plunged more than 13% to below $9 in opening trade on Friday after the company slashed its FY2021 earnings below market expectations in its latest trading update. While the business declined to offer forward guidance during its half-yearly results in February, today the business (ASX: KGN) said it expects… Read more »
The world’s biggest investor, New York firm Blackrock, is selling down ASX-listed fintech Afterpay as the company’s share price continues to head south. Afterpay (ASX: APT) lodged yet another ceasing to be a substantial shareholder notice for Blackrock today, after nearly five months of the investment firm dipping in and out of having 5% stake… Read more »
While plenty of investors wanted in on the ASX listing of tech-based labour hire and recruitment company, Hiremii, which raised $6 million at 20 cents a share in an oversubscribed IPO, it seems plenty also wanted out today. The Perth-based company’s share price tanked more than 25% on the opening day of trade to close… Read more »
ASX-listed payments platform Tryo (ASX: TYR) is spending $22.5 million to acquire NAB-backed digital health payment startup Medipass Solutions The deal gives an exit for the four-year-old Melbourne-based startup’s key investor, NAB Ventures. Founder Peter Williams and CEO Jonathan Davey will also sell their stakes, in the 100% acquisition by Tyro, but will remain with… Read more »
ASX-listed payroll and HR software platform ELMO (ASX:ELO) is using artificial intelligence in a new people analytics product that can predict when people are looking to leave the business. The company said its Predictive People Analytics (PPA) module is the first phase of a suite of new machine learning developments to deliver data-driven insights and… Read more »
Australia’s love of reading has seen quarterly sales at ASX-list online retailer Booktopia soar 53% in a year. The company (ASX: BKG) had already upgraded its revenue and EDBITDA forecasts for FY2021 just two months after listing last December and today released its March quarter figures, saying it was on track to meet the upgraded… Read more »
Data analysis company Nuix, which posted stellar rises its share price, doubling on the opening day of trade following its IPO in December 2020, is in trouble with investors today after its latest earnings guidance revealed the company is set to miss some of its prospectus guidance by tens of millions of dollars. Shares in… Read more »
ASX-listed Afterpay is contemplating a US listing as global sales for the third quarter of FY21 continue to boom. The buy-now-pay-later (BNPL) fintech (ASX:APT) beat market expectations, with underlying sales overall up 104% on 12 months ago, while underlying sales in the US and UK were up 167% and 246% respectively for Q3 FY21. Quarterly… Read more »
Zip Co. (ASX: Z1P) has raised another A$400 million via a seven-year unsecured convertible notes to fund its international expansion plans. The not-yet profitable BNPL’s latest raise follows a similar $1.5 billion raise by Afterpay (ASX: APT) via convertible notes due in 2026. Co-founder and COO Peter Gray said they were “very pleased with the… Read more »
The Commonwealth Bank’s venture scaling arm, x15ventures, has invested $1 million for a 26.7% stake in bill payments startup Payble, a subsidiary of listed IT company Identitii (ASX: ID8). Payble tackles late and failed bill payments before they happen, seeing the possibilities in open banking through Consumer Data Right (CDR) to tackle a problem with… Read more »
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