IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
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Today's announcement may have had to be issued as an RNSNON as there isn't a measurable immediate financial impact, but it's still big news.
Saudi Arabia is building "21 cutting-edge entertainment destinations across 14 cities, featuring over 150 attractions, diverse dining outlets, local and international retail outlets".
And ACSO has been appointed as "the key provider of ticketing and visitor management technology for all destinations and sub-venues associated with the project".
Quite a coup. And presumably pretty materially financially rewarding. The only question is how long until fruition:
Https://www.londonstockexchange.com/news-article/ACSO/accesso-to-power-saudi-entertainment-destinations/16397455
A prestigious win with the Pro Football Hall of Fame in Ohio, which has "hundreds of thousands" of visitors every year:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/accesso-to-Collaborate-with-Pro-Football-Hall-of-Fame-to-Elevate-Visitor-Experi/93390029
"accesso® to Collaborate with Pro Football Hall of Fame to Elevate Visitor Experience with New, Interactive Mobile App
29/02/2024 2:00pm
accesso Technology Group (AIM: ACSO), the premier technology solutions provider for attractions and venues worldwide, has announced a new collaboration with the Pro Football Hall of Fame ("the Hall"), introducing a new, cutting-edge app designed to enhance the experience and boost engagement for visitors to the Hall's renowned museum in Canton, Ohio.
The newly launched app is now available for download on iOS and Android devices.
Utilizing a suite of guest experience tools from accesso, the multi-faceted app features a full venue audio tour (available in English and Spanish), an interactive museum map, trivia activities and direct access to news and app-exclusive information about the venue. A second phase of the rollout – planned for the fourth quarter of 2024 – will see further enhancements to the Hall's audio tours and the launch of an all-new digital archive. This archive will host digital records of hundreds of thousands of the Hall's valuable assets – such as player jerseys, footballs and helmets, along with documents and photos – broadening public access to the expansive collection, less than 1% of which is exhibited within the museum.
....The relationship with the Pro Football Hall of Fame follows extensive growth for accesso, with last year seeing the company's launch of the cloud-native, scalable, highly flexible accesso Freedom℠ Restaurant & Retail platform and its acquisition of VGS, with the rebranded introduction of the accesso Horizon℠ Ticketing & Visitor Management system. And recently, accesso partnered with California Mountain Resorts Company to revolutionize the skiing experience with the launch of an all-new integrated resort app network."
FYI per an article last week on Proactive, Shore Capital reiterated their Buy recommendation.
A couple of interesting points:
(1) Shore believe "“Even at a discount to UK peers, you can still double the current share price“ on a bid coming in for ACSO:
"Currently, the company is trading at a discount to its UK and US SaaS peers, which ShoreCap believes is unwarranted, while in the long term, it is operating in a structurally growing market with an increasing number of visitors and demand for digitalisation.
“The group helps its customers gain a greater share of visitors' wallets as well as improve overall efficiency and ultimately if not valued by the market, we believe these characteristics could also make [Accesso] a bid target.
“Even at a discount to UK peers, you can still double the current share price.“
'Buy' is the recommendation."
(2) Shore "is forecasting underlying cash profits of US$23 million for the 12 months" (today's £148.5m revenues were slightly behind Shore's $151m forecast, but margins must have been rather better than expected since ACSO traded in line with EBITDA expectations).
Was hoping for a decent uplift in sp. This has to be a target for a USA company just now.
"Wins significant early commitment for accesso Horizon"
Looks like an encouraging and nicely in-line trading statement today, with revenues up 6% despite the move away from lower margin staffing work (presumably Six Flags).
The new acquisitions are trading well with substantial customer wins, and overall revenue growth is expected to increase further to 9% along with raised margins. Nice to see the first contract win in Saudi Arabia too, which will hopefully be the first in what could be a lucrative opportunity.
Two pieces of news which show that the company is pushing ahead with new technology, machine learning etc:
Https://blooloop.com/technology/news/accesso-passport-update/
Extracts:
"accesso Technology Group PLC, a leading technology provider for attractions worldwide, has released the latest edition of its industry-leading accesso Passport eCommerce ticketing technology."
"The upgraded accesso Passport eCommerce ticketing solution includes a number of improvements designed to simplify both operations and the user experience."
"Steve Brown, accesso CEO, says: “As our industry gathers at IAAPA Expo Orlando 2023, accesso celebrates a year of extraordinary growth and innovation. The roll-out of our enhanced eCommerce ticketing platform is a testament to our commitment to delivering cutting-edge technology solutions that redefine the guest experience for leisure & entertainment venues.”
This announcement comes during a successful year for accesso, with the acquisition of VGS, the introduction of a number of breakthrough products, including the accesso Freedom Restaurant & Retail solution, sector accolades, and global recognition."
And:
Https://blooloop.com/technology/news/accesso-reveals-qview-sm-line-management-solution/
"accesso reveals Qview SM line management solution at IAAPA Expo & wins Brass Ring award"
"accesso Technology Group PLC, a leading technology provider for attractions worldwide, is exhibiting this week at IAAPA Expo 2023 in Orlando, Florida, where the team debuted the new Qview product, a patent-pending line-counting system set to modernise wait time estimation for theme parks and attractions. During the event, Qview was also recognised as a “Best New Product” in the 2023 Brass Ring Awards.
Innovative back-office Qview technology offers extremely precise real-time queue data, doing away with the need for human counts and enabling a precise, knowledgeable view of attraction wait times at any time of day.
Qview ‘counts’ the number of people in the queue by using machine learning technologies and real-time photos of the queue.
etc"
Chartist gibberish
ACSO, broke above multiple share price pivots from 23/11/23, today. In addition at least 3 technical indicators(macd,rsi,roc), show bullish positive divergence. Bollinger bands, top and bottom, are separating, usually implying that a fast share price movement will occur. Reinforcing the bullish scenario, is the fact that the RSI(relative strength index), crossed above 50, today, which is usually read as the beginning of an uptrend. Price targets, based on overhead supply from historic trading at higher levels, is 600 and 637. Inevitably, a retracement will occur at some point, in time, so the signal may be the lower bollinger band beginning to turn up, while the upper bollinger band continues upward. After the retracement is finished and the equity begins to trend up again, the position of the lower bollinger band is not relevant.
Bought more today in ISA .
546.8p on 547p limit order executed 2pm.
150% tranche size.
Bought two days ago I have just seen on ( T ) for 552p.
3/4 of a tranche size using the spare on acc .
Last seen at this price early September 2022 .
Back to 840p January 2023.
555p now 2.69% spread .
Moved notes move to ( T ) to make room for CLX
3 Analysts ( D ) expect the price to increase by 85%.
Long Path Partners continue to buy - they now own 15.01%, or 6.298m shares. They last had 5.79m shares per their prior holdings RNS, so they've added roughly 0.5m shares now:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Holdings-in-Company/92212019
Encouraging to see ACSO initiate a £4m share buyback programme (with the bought back shares being cancelled).
Following the recent director buying this represents another signal that they believe the current share price is good value:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Share-Repurchase-Prog/92165530
Good to see the CEO buying another £83,000 of shares, and the Chairman buying another £41,000's worth:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Director-PDMR-Shareho/92106084
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Director-PDMR-Shareho/92106079
Put in a order for a modest top up @ £6.40. We'll see if it goes through. If it does, it will take my average up to £4.75.
Good to see that guidance for the year is firmly stated as being in line with expectations, despite the EBITDA reduction in the much seasonally weaker H1. I note that repeatable revenues are strong at 84%.
The all-important H2 has seen increased visitor footfall, presumably supporting the "meeting expectations" guidance given that we're already halfway through H2.
ACSO is going through a phase of acquisition integration and resetting of the business through increased investment in new and upgraded software, which impacted the H1 results.
As BodRuncie said, the three "transformational" acquisitions in H1 for $50m will soon start to benefit operations from cross-selling and other synergies.
The company looks well placed for future growth, but are currently in a consolidation phase. Costs are rising and eating into the high margins at present. ACSO have a very large headcount now, bringing in-house the Digisoft developers and the other 2 acquisitions.
If the price drops a lot now, it would be a good time to buy in if you're prepared to wait 6 months for the FY results, which I expect will start to show some of the fruits of their H1 efforts.
The cross-selling potential is already showing benefits, and will only increase imo.
Not as positive as I was hoping for. Good growth ahead but it is coming at a cost imv.
It should be tomorrow (Tuesday).
ACSO interims were released 13th Sept last year, so must be due any day now.
The current buying suggests others are confident of a good TU.
Good to see the earnings-enhancing acquisition of VGS (historic $4m PBT) has now completed:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Completion-of-Acquisi/91834459
What's up with the 5% jump at day's end?
I missed this question but minusbat has answered just as I would have done. It's also heavily implied by Steve Brown in this short interview at about 50 seconds in.
https://youtu.be/fOMaY8ecxvw
This is a good one to tuck away for a few years...
"Ken, when did Disney start ? I thought disney did their own thing including fast passes etc."
https://www.planetattractions.com/news/accesso-acquires-VGS-in-major-deal-that-sees-VGS-platform-rebranded-accesso-Horizon/2443
We bought VGS - in the article they mention "‘the world's largest theme park resort’ destination in Orlando" and it doesn't take a lot of guessing to work out who that might be. I dont know this for sure of course, but seems likely.
(FD: I work for Accesso, but this is all personal opinion, I dont have any inside knowledge here)