Tiger Brokers

Stakk Secures New Business Under IBM Agreement; Shares Rise 13%

MT Newswires Live
3 hours ago

Stakk (ASX:SKK) struck an agreement with IBM under which new business deployment in Australia and New Zealand will use Stakk's artificial intelligence-powered document processing and validation capabilities, according to a Tuesday filing with the Australian bourse.

The agreement starts this month with immediate revenue contribution, has an initial term through September 2027, and may auto-renew for subsequent 12-months terms, per the filing.

Stakk said the agreement's revenue is subject to processing volumes and is not currently quantifiable, but is expected to "contribute meaningfully" to the company's fiscal 2027 revenue target given IBM's size.

Shares of Stakk surged 13% in recent Tuesday trade.

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