Bigtincan (ASX:BTH) - CEO, David Keane
CEO, David Keane
Source: Bigtincan
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  • Through its subsidiary, BTC Mobility, Bigtincan Holdings (BTH) has entered a stock purchase agreement with ClearSlide’s sole shareholder
  • BTC will acquire ClearSlide, which is a sales engagement company, for US$16.25 million (roughly A$21.5 million)
  • Bigtincan believes the acquisition will attract new customers and complement its technology which works to enhance sales productivity and customer engagement
  • The software sales company will use existing cash reserves for the buy and then replenish by raising $35 million
  • The $35 million institutional placement will issue 33.3 million shares at $1.05 — representing a 5.8 per cent discount to the last closing price
  • Company shares are down 2.24 per cent and are trading at $1.09

Bigtincan Holdings’ (BTH) subsidiary, BTC Mobility, has entered a stock purchase agreement with Core, which is ClearSlide Inc.’s only shareholder.

The agreement will see BTC acquire ClearSlide for US$16.25 million (roughly A$21.5 million) who is a leading sales engagement company that delivers buyer engagement analytics, content management and other tools for the sales process.

Bigtincan believes ClearSlide’s technology will complement its existing technology and supports its goal of being a leader in optimising buyer and seller engagements as well as attracting new customers.

ClearSlide also has estimated sustainable annualised recurring revenue (ARR) of US$5.2 million (roughly A$6.9 million).

Bigtincan’s AI-powered sales automation platform claims to enhance sales productivity and customer engagement.

The companies will combine their technologies to create advanced models for individual clients.

“As part of meeting our mission and vision of empowering every customer-facing worker to be successful in the new digital and remote economy adding ClearSlide sales engagement technology and the customer base brings new opportunities for Bigtincan to extend our market space and continue our leadership position,” Bigtincan Co-Founder and CEO David Keane said.

Bigtincan will pay for the acquisition using its cash reservers which it will then replenish with an institutional placement.

The software sales company has announced a $35 million institutional placement which will result in the issue of around 33.3 million shares at $1.05 per new share.

The issue price represents a 5.8 per cent discount to the last closing price of $1.115 on December 21 and a 5.4 per cent discount to the five-day volume-weighted average price.

Company shares are down 2.24 per cent and are trading at $1.09 at 10:34 am AEDT.

BTH by the numbers
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