Field Solutions (ASX:FSG) share price lifts on partnership agreement

The Field Solutions Holdings Ltd (ASX: FSG) share price was on the rise in late afternoon trade after the company provided a positive update.
The post Field Solutions (ASX:FSG) share price lifts on partnership agreement appeared first on The Motley Fool Australia. –

asx share price rising on deal represented by hand shake

Field Solutions Holdings Ltd (ASX: FSG) shares lifted today after the company announced a wholesale supply, management and partnership contract. At the market’s close, the Field Solutions share price was trading hands at 8.8 cents, up 3.5%.

What did Field Solutions announce?

The Field Solutions share price jumped higher today after the company provided its positive update to the ASX.

According to its late afternoon release, Field Solutions has executed a wholesale supply, management and partnership agreement with FlipConnect.

Established in 2015, FlipConnect is a telecommunications and entertainment brand located in Australia, which provides internet and over-the-top TV entertainment.

FlipConnect will be the second major customer to take advantage of Field Solutions’ virtual wholesale broadband agreement (WBA) product. The platform is designed to remove the costs of using internet service providers (ISP) or managed service provider (MSP) when delivering nbn services.

As a result, ISP companies such as FlipConnect can pay for backhaul, transit and termination on a per-subscriber model, while focusing on driving sales growth.

Terms of the deal

Under the deal, Field Solutions will deliver national nbn, network management, and orchestration services to FlipConnect. In return, FlipConnect will resell Field Solutions’ products across its regional non-nbn fixed wireless network. This opens up new opportunities for Field Solutions in capturing new market share.

The contract will run for an initial three-year period and generate $24 million in revenue for Field Solutions. Project commencement is expected to occur sometime in April and will take around two months to complete.

Management commentary

FlipConnect CEO Steve Kotzohambos commented:

FSG’s orchestration platform across nbn products, as well as voice, business and mobile services allows us to expand our offering and reach, which, combined with our excellent customer experience, gives us a truly unique and competitive advantage.

Field Solutions share price performance

The Field Solutions share price has accelerated by 340% in the last twelve months and is up 120% year to date. The company’s shares reached a multi-year high of 9.1 cents this month before retreating to their current levels.

Based on the current share price, Field Solutions has a market capitalisation of about $45.4 million.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Field Solutions (ASX:FSG) share price lifts on partnership agreement appeared first on The Motley Fool Australia.

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!