Bigtincan wins record $7.2m contract expansion with T-Mobile
Bigtincan has won its largest contract expansion, taking the total contract value with T-Mobile since August 2017 to $11.5m.
Global software solutions provider Bigtincan Holdings (ASX: BTH) has won a $7.2 million contract expansion with US wireless network carrier T-Mobile to cover business-to-business sales and the extended use of its sales enablement platform facility.
The three-year expansion signifies the largest win to-date for the young company, and will boost the total value of its contract with T-Mobile to over $11.5m.
Bigtincan’s initial contract with T-Mobile was won by competitive tender in mid-2017 and involved a deployment at scale of the Bigtincan Hub application to 5,500 retail stores on up to 23,000 mobile devices.
The contract expansion follows the success of the initial deployment and will broaden Bigtincan offerings to T-Mobile beyond retail.
The new contract will include B2B sales and extended use of the feature-rich Bigtincan Hub as a core platform for T-Mobile’s business, utilising Bigtincan’s software development kits (SDKs) and application programming interfaces (APIs).
Chief executive officer David Keane said the contract win validates Bigtincan’s focus on its large corporate and enterprise customers.
“We are delighted to be offering an expanded range of functionality to deliver world-class enterprise software to even more of [T-Mobile’s] team members,” he said.
The win is the latest in a string of successes for Bigtincan during the past 12 months with new customers including American Express, CA Technologies (Broadcom), Prudential Insurance, Cushman Wakefield and Microsoft.
FatStax acquisition
Today’s announcement follows Bigtincan’s acquisition of US-based software-as-a-solution provider FatStax in late 2018.
The acquisition served to expand Bigtincan’s go-to-market footprint in the US, via FatStax’s offices in California and the US midwest.
FatStax provides mobile sales enablement platform software with a focus in the manufacturing vertical industry.
The company’s sales tools claim the ability to “transform” spreadsheets, paper catalogues and website content into modern digital catalogues, updating product data instantly and “giving sales people the ability to answer technical questions at a product level”.
Mr Keane said FatStax’s capabilities will mesh with Bigtincan’s comprehensive, artifical intelligence-powered platform to provide manufacturing sales teams with an “unparalleled advantage” when closing deals and driving return on investment.
“FatStax brings unmatched expertise in enabling success for manufacturing sales teams in today’s evolving market,” he said.
“We see this acquisition as a huge asset to enhancing our existing platform, and continuing to build our portfolio offerings as we look to meet the needs of sales teams across industries.”
At midday, shares in Bigtincan were up 18.87% to $0.315.