Tech Capital

BOS Global surges as it takes major stake in Aussie software firm

The shares shot up by around one-fifth as investors liked the cross-selling opportunities opened up by BOS gaining access to Call Design's blue-chip client base
Call centre
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Office productivity software developer BOS GLOBAL HOLDINGS Limited (LON:BOS) is to acquire 40% of Call Design, a profitable Australian provider of workforce optimisation tools.

Call Design is primarily focused on call centre services, and has an established blue-chip client base, including all four of Australia’s major banks.

BOS says the acquisition of the stake opens up the possibility of cross-selling opportunities to both companies.

BOS is paying £280,000 in cash plus 5mln BOS shares for the stake.

The cash element is expected to be funded through BOS’s existing convertible loan facility.

"BOS and Call Design share a common goal: to optimise the workplace by automating day-to-day processes which enables employees to work more efficiently. Given this, and the complementary nature of our products and services, there is a strategic opportunity to create a strong, unique and integrated offering, which increases our clients' business performance and in turn positively impacts our sales,” claimed Mark Uren, BOS’s chief operating officer. 

“In addition, Call Design already has established relationships with many key players in both our core target sectors and geographic markets and has solid profits so the rationale for this investment becomes even clearer.  Call Design has a solid pipeline of new business opportunities, and we look forward to providing updates on this in the coming weeks.  Most importantly, we continue to make excellent progress towards the launch of our innovative BOS360 Work Patterns platform, targeted in May 2017, which will further strengthen our competitive software product and service offering," he added.

Shares in BOS surged 19% to 15.01p in early deals, having reached 15.92p at one point.

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