FirstWave Cloud Technology Secures Contract Renewal With Microsoft; Shares Up 19%

MT Newswires Live
11 Jul

FirstWave Cloud Technology (ASX:FCT) secured a new 12-month agreement with Microsoft and an annual recurring revenue uplift, according to a Friday filing with the Australian bourse.

The contract has a total value of about $507,000, representing an 18% uplift on the previous agreement, the filing said.

The company secured sales agreements worth AU$1.8 million in three weeks, including a contract extension with Telstra (ASX:TLS) worth AU$600,000, per the filing.

FirstWave's shares rose nearly 19% in morning trade Friday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10