Australia's IODM rises on US expansion, renewal of Convera deal

Iodm

09/04/2026 06:03

** Shares of IODM Ltd IOD.AX rise 16.7% to A$0.175, their highest level since March 18

** Set for best day since March 16

** Accounts‑receivable software firm secures deal to provide software platform 'IODM Connect' to 283 U.S. university clients; no financial details mentioned

** Co also renewed commercial agreement with payments firm Convera for the UK higher education sector with better terms of payment

** Under deal, co to receive 30% share of all payment revenue generated by Convera for all universities that use IODM, up from the previous 25%

** About 349,037 shares traded so far, 1.4x the 30-day average

** Stock up 34.6% YTD

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.Shaikh@thomsonreuters.com;))