Accesso Technology Share Discussion Threads

[rivaldo] 28/6/2023 09:23

Very effusive new article about the VGS acquisition:



"accesso offers masterclass in the small-cap takeover

Brining in former theme park ticketing rival a wise decision in more ways than one

Did theme park ticketing technology provider accesso Technology Group plc just execute one of the savviest acquisitions of the year by an AIM-listed small cap?

The deal in question pertains to accesso’s US$38.5 million acquisition of VGS, a similar type of company that nonetheless brings a lot to the table.

etc"

[rivaldo] 21/6/2023 21:49

The link to the interview in post 5291 (cheers W13Ken) doesn't work, so here's one that does:

[tones3] 21/6/2023 16:18

I don’t recall any interviews with Paul Noland. I’m happier knowing Steve is back. As a side note Iv already used Accesso to purchase tickets for multiple ventures this summer.

[w13ken] 21/6/2023 14:11

Ok, good to know EC, not too much online on this.

[effortless cool] 21/6/2023 13:58

It was the Executive Chairman that was the issue, rather than the CEO.

[w13ken] 21/6/2023 13:49

Paul Noland was the name of the CEO that oversaw the share price crashing not long after Steve Brown originally left. Things have picked up since his 2020 return.
New interview on the VGS acquisition:

[tones3] 21/6/2023 12:38

Now they are way undervalued.

[deanowls] 21/6/2023 12:19

It’d be nice if when announcing options that they actually tell us what the targets being given are. It is ridiculous that they do not include this information.

[effortless cool] 21/6/2023 12:13

It was hugely overvalued and accounting very aggressively.

So any shorters targeting it were simply smart.

Shorting doesn't destroy value, it helps eliminate over-value.

The accounting is now quite prudent and the management more trustworthy.

[tones3] 21/6/2023 11:28

Targeted by shorters.

[bouleversee] 21/6/2023 10:13

Can anyone remind me why the price dropped so much in 2018? They are still a long way from the high then and I am surprised they are taking so long to recover as the news always seems to be pretty good.

[rivaldo] 21/6/2023 09:38

This newswire piece on the VGS acquisition is mostly the same as the RNS, but also includes this extra comment from ACSO's CEO which gives additional reassurance that ACSO know exactly what they're getting in this complementary acquisition:



"This is particularly meaningful for me and Paolo, as our working relationship dates back more than two decades to the early days of the original VGS ticketing and visitor management solution," continued Brown"

[strange1] 20/6/2023 12:21

A 50% margin on a $8m revenue business.......must be one of those tech companies where you don't need to spend any money on the tech....or sales.....or IT security. Lets hope David Richards isn't one of the non named owners

[rivaldo] 20/6/2023 12:13

Looks an excellent acquisition to me - immediately earnings-enhancing, opening up new markets plus the potential for cross-selling.

Terrific margins and a good value purchase price.

And:

"VGS' customers include the world's most popular theme park destination located in the United States, and one of the Seven Wonders of the Ancient World in Egypt."

This is intriguing since "the world's most popular theme park destination located in the United States" is Disney in Orlando...

[effortless cool] 20/6/2023 11:29

An interesting acquisition announced today:



Just $8.2m of revenue generating $4.0m of PTP is an extraordinarily operating margin. Let's hope that can be maintained.

Net $38.5m purchase price is a PE ratio of about 13, which seems a good deal for a profitable tech business.

Accesso had net cash of $64.7m at ye 2022 and has subsequently spent $9m on the acquisition of Paradocs, so this new one is easily funded.

The market certainly seems to like it.

[rivaldo] 30/5/2023 06:15

Today's RNS hopefully indicates the size of ACSO's ambitions. They already have a $60m+ cash pile, but have agreed $60m of new banking facilities to enhance their "ability to execute value accretive acquisitions".

There may be some interesting corporate action in the pipeline.

[rivaldo] 25/5/2023 08:31

"accesso's Freedom launch highlights growing momentum, says broker

Accesso group's latest solution Freedom underlines its growing global diversity, said broker ShoreCap and highlights the growing financial momentum.

The group saw record revenue last year through recovered demand, multiple projects with existing clients, and new wins.

Even so, accesso is currently trading on a discount to both UK and US SaaS peers with a net cash balance of US$64.7mln, no debt and access to a further £18m through an undrawn facility.

“We believe valuation fails to capture the growing global diversity of the group, and that the positive financial momentum leaves our forecasts appearing well underpinned.”

Buy is the broker’s rating"

[rivaldo] 23/5/2023 06:13

This sounds nicely disruptive as "the first tier-one restaurant and retail solution designed specifically for the cloud":



"accesso Technology Group plc (AIM: ACSO) , the premier technology solutions provider to leisure, entertainment, and cultural markets, today announced the launch of accesso Freedom - accesso's robust, fully hosted point-of-sale (PoS) platform and the latest addition to the Group's suite of industry-leading technologies.

accesso Freedom introduces a new standard in cloud-native restaurant and retail PoS for multiple venues, including theme parks and attractions, ski areas, cultural venues, resorts and casinos. The platform builds upon intellectual property acquired from solutions provider Omnico Group in July 2022.

Omnico Group served as the leading restaurant and retail PoS provider for leisure and entertainment industry operators, supporting more than 200m guests per year at many of the world's most prestigious venues. Leveraging that depth of experience and functionality, the newly designed accesso Freedom solution delivers a fully hosted restaurant and retail revenue platform optimized for speed, robust transactional support, flexibility and ease-of-use.

accesso Freedom is the first tier-one restaurant and retail solution designed specifically for the cloud. The Software-as-a-Service solution allows customers to unify restaurant and retail transactions on a single platform, and is designed to scale seamlessly for venues of any size.

The solution is built to serve the rapidly evolving marketplace in shifting from traditional point-of-sale terminals to more forward-thinking options, including mobile ordering, kiosks, self-service retail check-out. Powerful integrations enable operators to leverage emerging technologies such as chat bot ordering and voice-based transactions.

"Today's guest requires convenience and flexibility, and the industry needs a solution for restaurant and retail selling that can deliver on those demands" said Steve Brown, accesso CEO. "With the launch of Accesso Freedom, we are proud to usher in a new era of consumer engagement for an expansive selection of venue types across the leisure, entertainment and hospitality sectors."

[tones3] 09/5/2023 13:24

I think they already use prism wristbands in the water parks. I assuming the new wristbands will be throw away bands and nothing to do with acso.

[rarecontributor] 09/5/2023 13:13

Six Flags also mentioned a new product to be launched at their waterparks during their conference call - "And we are excited to launch wristband technology that allows our guests to purchase food and drinks without having their credit card with them". It will be interesting to see if that's the 'Accesso Prism' wristbands as used by Universal's Volcano Bay in Orlando.

[rivaldo] 09/5/2023 12:42

Six Flags' shares were up 19% yesterday after they beat forecasts for Q1.

The company's results conference call was pretty upbeat and had this interesting excerpt which hopefully is good news for ACSO, particularly as regards food and drink:



"We plan to roll out our new mobile app in June, which will deliver features, such as, schedule of events to help our guests plan their day in the park; the seamless ability to purchase and access flash passes without visiting guest services, with the click of a button, guests will be able to upgrade from single-day tickets to season passes or from lower-tier season pass categories to higher-tier options; interactive maps feature that helps guests navigate our parks; and improved mobile food ordering system, which we expect will help increase the usage of our mobile dining system. We believe this will help raise our in-park spending because our average mobile food order value is 10% higher than on mobile order."

[rivaldo] 02/5/2023 13:30

Peel Hunt say Buy with a 1035p price target (Shore Capital also say Buy):



"The deal should add 3% to Accesso’s bottom line,” analysts at Peel Hunt said.

The investment bank argues that the purchase sees the tech company “double down on its highest growth area” as 62% of new customers in 2022 came from the ski market.

Peel Hunt added: “The 38 new heads gained, with a speciality in ski markets, will also help with the development of future products.”



And a brief interview with the CEO - doesn't add much, but notes there's "so much opportunity" folowing the latest acquisition:

[bouleversee] 28/4/2023 15:45

Never seems to do much for the s.p.