The COVID-19 pandemic has brought drastic changes in the lives of everyone. At the start of the year, no one would have imagined the situation we are in at present. Lockdowns, social gathering, norms against religious congregations are things that were unheard before.
To prevent the spread of the virus, Australia, like many countries, was put under lockdown. However, the country has been able to curb the spread and is getting back on its feet, albeit slowly. The government has started taking initiatives to revive the economy and bring people back on track and in a virus-free environment.
In Australia, the number of cases has gone significantly down. However, still, there are COVID-19 cases in the country. In such a situation, there is a need to address the way people work post the COVID-19 global lockdown.
The companies have also started coming up with new ideas, business updates and strategies in the existing environment through which they can provide better services to their clients in the future. In this article, we would look at the recent update of three ASX-listed technology stocks.
CV Check Limited (ASX:CV1)
CV Check Limited, the provider of the complete screening and verification to a broader range of industries and LiveHire Limited (ASX:LVH), the talent acquisition & engagement platform Company, have announced the live launch of their technology integration.
CV Check is a growing business whose revenue stream is improving via the provision of its background screening solutions which it provides to employers, individuals, and industry associations. The Company has developed an online platform that offers a complete range of candidate verification worldwide.
On the other hand, LiveHire is a high-growth business that belongs to the human resources technology sector, and it offers talent acquisition & engagement software. LVH’s platform provides a proactive sourcing and talent mobility solution that improves the flow of talent into and through business.
The integration release has seen the technology teams of both the organisations work together successfully to develop a smooth user interface. With this, the clients would be able to request the solutions offered by CV1 within LiveHire’s platform. Thus, bringing an elegant complete, full-service background assessment solution through which clients can obtain checks worldwide.
CVCheck & Xref Strategic Alliance Phase 2 Integration:
CV Check Limited, on 19 November 2019, announced its strategic alliance with Xref Limited (ASX:XF1) to offer a best-of-breed solution for all candidate verification across Australia and New Zealand. The phase 1 of the integration was concluded, and it went live during February 2020.
On 25 May 2020, the Company announced the completion of Phase 2 of the integration of CV1 and Xref platform and is released into the live production environment. With this, the CVCheck clients would be able to order Xref reference checks from the CVCheck portal directly. Other than this, the clients would be able to order Xref reference checks through any current CVCheck integration or connector with other key human resource information systems.
By the market closure on 25 May 2020, the shares of CV1 improved by 7.5% and settled at $0.086.
Infomedia Ltd (ASX:IFM)
Infomedia Ltd is the leading global provider of SaaS and data analytics solutions to the parts and service sector of the automotive industry.
On 25 May 2020, Infomedia Ltd confirmed the completion of the share purchase plan that was announced on 23 April 2020 and got closed on 21 May 2020.
The SPP was after the completion of the institutional placement under which the Company was able to raise around ~$70 million by issuing each share at $1.50. The total fund raised through both SPP and Institutional placement was nearly $83.9 million.
The completion of the SPP and Placement would provide greater financial to accelerate its increasing pipeline of acquisition opportunities. The Company would further invest in its core product as well as service offerings.
A Glance at the Share Purchase Plan:
The share purchase plan was offered to all the qualified shareholders who, under the SPP, could subscribe for maximum of $30,000 worth of new, fully paid ordinary shares in the Company, without any brokerage or other transaction costs.
The price of shares under the SPP was set at $1.50 per share and was offered to 5,011 qualified shareholders. Valid applications totalling ~$13.94 million were obtained from 771 shareholders. The numbers show that only 15.3% of the eligible shareholders participated in the SPP on the record as on 22 April 2020.
By the market closure on 25 May 2020, the shares of IFM improved by 2.795% and settled at $1.655.
BrainChip Holdings Ltd (ASX:BRN)
BrainChip Holdings Ltd is a global technology company that has created a ground-breaking latest neural networking processor that brings AI to the edge in a manner that surpasses the abilities of other neural network devices.
On 25 May 2020, the Company announced that it has entered into a joint agreement with a prominent Tier-1 automotive manufacturer for the evaluation of the Akida neural network System-on-Chip (SoC) for Advanced Driver Assistance Systems (ADAS) & Autonomous Vehicle (AV) applications.
In ADAS and AV applications, real-time processing of imaging and other sensor data is crucial for the safety, dependability, and performance of many systems.
BRN’s partner in this joint agreement recognised that because of the advanced and highly efficient neuromorphic nature of the Akida NSoC, it could offer a wide range of potential solutions to difficult problems like behaviour assessments as well as real-time object recognition. The unique blend of extremely low power, high performance & on-chip learning permits for real-time processing at the sensor combined with continuous learning.
By the market closure on 25 May 2020, the shares of BRN improved by 10.345% and settled at $0.064.
Please Note: $ used in the article refers to Australian dollar unless stated otherwise.