Stocks of the Hour: BetMakers, Novatti & Etherstack

Company News

by Lauren Evans

BetMakers (ASX:BET) signed one agreement and terminated another. Its OM Apps business signed a new agreement with two divisions of The Waterhouse Group, Tarpin Finance and Rob Waterhouse. OM Apps will continue to host the for a 5 year extension period, while its 2020 deal to provide tech and services to the betting application remains unchanged. Meanwhile, BetMakers DNA terminated its managed trading agreement with Tarpin, which is expected to deliver higher gross profit margins to the business vertical with all revenues remaining with BetMakers. Shares are trading over 2 per cent higher at 51 cents.

Fintech payments company Novatti (ASX:NOV) is set to receive a dividend in excess of $8 million from its 19.9 per cent stake in accounting software company Reckon, following Reckon's deal to sell its Accountants Practice Management Group for $100 million. Novatti’s strategic partnership with Reckon’s cloud-base remains unaffected by this deal. Shares in Novatti (ASX:NOV) are trading 9.3 per cent higher at 24 cents.

Etherstack Wireless (ASX:ESK) has launched its NATO narrowband waveform platform which aims to improve communication capabilities and reduce costs for NATO member nations and their defence radio manufacturers. The wireless software company said there are no new customer contracts associated with this launch, but if future contracts are realised, it's likely to produce material revenues over a typical 10 to 15 year life-cycle of a deployment. Shares are trading 9.6 per cent higher at 46 cents.

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