Bigtincan (ASX:BTH) share price jumps 7% on acquisition and guidance update

This tech company is outperforming expectations in FY 2021…
The post Bigtincan (ASX:BTH) share price jumps 7% on acquisition and guidance update appeared first on The Motley Fool Australia. –

The Bigtincan Holdings Ltd (ASX: BTH) share price is pushing higher on Thursday morning.

At the time of writing, the sales enablement software provider’s shares are up 7% to $1.09.

Why is the Bigtincan share price pushing higher?

Investors have been buying Bigtincan’s shares this morning after it announced a small acquisition and released an update on its guidance.

In respect to the former, the company has signed a definitive agreement to acquire 100% of Vidinoti SA for ~$770,000. The consideration will be 50% cash and 50% equity.

Vidinoti is a leader in augmented and virtual reality systems based in Fribourg, Switzerland. It has developed a comprehensive suite of tools to create, deploy, and manage augmented reality content, including V-Director, V-Player and the Vidinoti SDK.

It holds patents in core areas of technology that will further advance Bigtincan’s leadership in this important technology sphere. This is expected to support the company’s mission of creating the “Buying Experience of the Future” for the world’s leading Enterprise Customers.

Bigtincan’s CEO and Co-Founder, David Keane, said: “We have been collaborating with the Vidinoti team for some time and I am delighted that we could now bring our companies together to accelerate development in this exciting space for enterprise use cases.”

Guidance update

Also giving the Bigtincan share price a boost today was management revealing that it is on course to surpass its guidance in FY 2021.

As things stand, the company has achieved $53 million in Annualised Recurring Revenue (ARR) with two weeks of the financial year remaining. This represents year on year growth of 48% and compares to its previous guidance of ARR at the top end of $49 million to $53 million.

Mr Keane commented: “Achieving $53m in ARR before the end of the FY21 period is another milestone in the development of Bigtincan This result demonstrates the ongoing progress of the Bigtincan business and arises from a combination of new orders in the USA, Europe and Asia/Pacific, together with expansion from existing customers, and shows that as the world continues to move forward and economies strengthen, Bigtincan technology is critical to the success of customer facing workers in an increasingly digital and remote economy.”

The Bigtincan share price is up 27% over the last 12 months.

The post Bigtincan (ASX:BTH) share price jumps 7% on acquisition and guidance update appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

2 small cap ASX shares which could have significant upside

3 rapidly growing small cap ASX shares to watch

Top ASX shares to buy in June 2021

Don’t play the game you can’t win…

Top brokers name 3 ASX shares to buy next week

James Mickleboro does not own any shares mentioned.The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!