Australia's Spacetalk up on Warehouse Group NZ partnership agreement

Warehouse

07/12/2023 03:46

** Shares of Spacetalk  SPA.AX  rise as much as 10.5% to
A$0.021, on track for its best day since Nov. 20, if current
gains hold
    ** Technology co signs a partnership agreement with New
Zealand-based retailer, The Warehouse Group NZ  WHS.NZ 
    ** Co says under the agreement, Spacetalk's Adventurer 2 and
Spacetalk Loop smartwatches will be offered in the retailer’s
Noel Leeming and The Warehouse Stores outlets
    ** Adds agreement is expected to contribute towards the
delivery of Spacetalk's stated target of A$20 mln ($13.07 mln)
to A$25 mln in annual recurring revenues (ARR) within the coming
three years
    ** Around 402,647 shares change hands, compared with the
30-day average volume of 341,335 shares
    ** Stock down 23.6% YTD, as of last close

($1 = 1.5307 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))