Bigtincan wins record $7.2 million T-Mobile contract extension, shares surge
Tuesday, 8 January 2019 Bigtincan Holdings Limited (ASX:BTH) has won a contract extension with US-based T-Mobile which will result in the addition of more than $7.2 million in recurring revenue over three years. The record contract expansion means that the total value of Bigtincan’s contract with the US giant now exceeds $11.5 million. Shares increase 29% Investors responded with shares rising almost 29% to an intra-day high of 34 cents. Bigtincan secured its initial contract with T-Mobile by competitive tender in August 2017. This involved a deployment at scale of the Bigtincan Hub application to 5,500 retail stores on up to 23,000 mobile devices. Broadening company’s use case The contract expansion will broaden Bigtincan’s use case within T-Mobile to include B2B sales and other groups intending to use Bigtincan Hub as a core platform for its business. This will utilise Bigtincan’s SDKs and APIs as well as the comprehensive features provided with the hub. “Validates intense focus” Chief executive officer David Keane said: “This contract expansion validates our intense focus on meeting the needs of our large corporate and enterprise customers. “We are delighted to be building upon our commitment to T-Mobile, delivering an expanded range of functionality and working closely to deliver world-class enterprise software.” Caps year of growth The contract extension caps an exciting 2018 calendar year of growth for the software company. This included key customers wins with American Express, Microsoft, CA Technologies (Broadcom) and Cushman Wakefield along with more than 100 releases of Bigtincan Hub across five platforms and a public SDK release. Acquisitions The company also acquired FatStax, a leader in the manufacturing vertical in sales content enablement, and Zunos, which brought deep new capabilities in learning. Bigtincan’s mobile, AI-powered sales enablement automation platform features the industry’s premier user experience. This empowers reps to more effectively engage with customers and prospects and encourages team-wide adoption. - Jessica Cummins
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