Why this small cap ASX tech share rocketed 22% higher today – Motley Fool Australia

The Dubber Corp Ltd (ASX: DUB) share price has been a strong performer on Friday.

In afternoon trade the cloud-based call recording service provider’s shares are up 8% to 83.5 cents.

At one stage today they were up as much as 22% to 94.5 cents.

Why is the Dubber share price racing higher?

Investors have been buying the company’s shares this morning following the release of a market update.

That update revealed how Dubber believes it is well-positioned from the once in a lifetime, generational shift to working from home.

Especially given how there are over 100+ cloud UC service providers utilising the Dubber platform. These include Verizon VCE, Vodafone One Business, Telstra Corporation Ltd (ASX: TLS) TIPT & Liberate, Optus Loop, and Cisco Webex Calling.

In respect to the latter, Dubber is connected to the core of the Cisco Webex Calling platform. Webex Calling is Cisco’s global Cloud UC solution sold via the existing Cisco channels including resellers and service providers. This provides it with a pipeline of 95,000 subscribers.

Verizon deal.

This wasn’t the only release the company made this week.

On Wednesday Dubber announced that it has signed a master services agreement with US telco giant Verizon to incorporate its call recording and artificial intelligence as a service solution into Verizon Virtual Communications Express.

The company’s CEO, Steve McGovern, said: “The completion of the agreement comes at a time where the requirement for Cloud and Unified Communications has never been so important, given the capacity to provide carrier grade services to a disparate workforce including those with ‘work from home’ mandates. This agreement enables Verizon to deploy services, sourced directly from Dubber, to any of its networks or service offerings as required.”

The chief executive revealed that the company was very proud to have its call recording platform integrated as a critical value-added service and believes this could be the start of bigger things.

“As one of America’s largest fixed line and mobile operators, we believe our relationship with Verizon will open a path to more ubiquitous call recording, data capture and AI services on a variety of Verizon services moving forward,” he concluded.

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As of 17/3/20

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

read original article at https://www.fool.com.au/2020/03/27/why-this-small-cap-asx-tech-share-rocketed-22-higher-today/

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