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Highlights
- Bigtincan announced to acquire 100% of SalesDirector.ai on 28 December 2022.
- Following the news, Bigtincan’s shares were trading in the red, down 1.869%.
- The company is looking forward to expanding its reach in revenue intelligence.
Today morning (28 December 2022), the global software company Bigtincan Holdings Limited (ASX:BTH) announced via an ASX filing that the company has successfully acquired SalesDirector.ai.
In order to position the business as the industry leader in revenue intelligence for sale enablement, Bigtincan's wholly owned US subsidiary BTC Mobility, LLC will be acquiring 100% of SalesDirector.ai, according to the official ASX release. SalesDirector.ai represents itself as a leading revenue intelligence and data platform provider.
Following the news, shares of Bigtincan appeared to be heading south with a loss of 1.869%. One share of Bigtincan was valued at AU$0.525 as of 11:33 AM AEDT, 28 December.
Including today’s decline, Bigtincan’s shares have dropped in value by 1.85% in the last five trading sessions and 23.19% in a month. Additionally, on a year-to-date (YTD) basis, shares of Bigtincan have declined 49.52% and 46.46% over the course of a year.
Details of SalesDirector.ai acquisition by Bigtincan
As stated in the ASX filing, the company intends to take the lead in AI-driven revenue intelligence by enhancing the scaling capacity of B2B sales organisations by providing insights and recommendations directly to sales reps for better revenue-related decision-making techniques. The market for revenue intelligence, a crucial component of sales analytics, is expected to reach US$4 billion by 2025.
The SalesDirector.ai platform generates several actionable revenue insights necessary to make the best business decisions by recording all sales, marketing, and customer success activity. With this partnership, Bigtincan's content, interaction, and relationship analytics will be combined with SalesDirector.ai technology to improve guided selling and forecasting accuracy.
Transaction details:
For this US$1.2 million acquisition of SalesDirector.ai, payment is being made in the following ways:
- a cash payment of US$800k at closing, subject to the total after deducting transactional costs, cash balances, and debt.
- Issuance of fully paid ordinary shares in Bigtincan at a cash price of AU$0.535 (price per share at the closing on 23 December 2022) with a value of US$400,711.
The company used its institutional placement's cash reserves to pay the acquisition's initial cash component. Bigtincan's revenue or expenses in FY23 are not anticipated to be impacted by the purchase, as mentioned in the ASX release.
Commenting on the SalesDirector.ai acquisition, David Keane, CEO and co-founder of Bigtincan, said:
Image Source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 28 December 2022
