ASX Tech Stocks: PlaySide Studios set to develop mixed reality game for Meta  

  • PlaySide has entered into a mixed reality game development agreement with Meta
  • K2Fly’s software will be used in Mineral Resources’ iron ore and lithium operations
  • Technology One reports record profits, record revenue and record SaaS fees for 13th yearth consecutive year

Video game developer PlaySide Studios (ASX:PLY) signed a game development agreement with Meta to create a mixed reality interactive software product that can be played on Quest’s virtual reality suite of devices.

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“This deal represents the next evolution of our work at the studio as we leverage our capabilities to create and develop exciting games under a revenue-sharing agreement with a leading global technology company,” said CEO Gerry Sakkas.

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“Meta is bringing virtual reality and mixed reality into the mainstream with its Quest suite, and we’re excited about the opportunity to demonstrate our domain expertise with this game.”

PlaySide receives payments for game development at agreed upon milestones, as well as a portion of the game’s net revenue in perpetuity.

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Meta’s revenue has been declining for the past few quarters — it wiped about $90 billion off its market cap in the September quarter — so it will be interesting to see if gaming revenue is affected.

Work on the title is expected to begin in the current fiscal year.

PLY share price today:

Other tech stocks with notable news:

K2FLY (ASX:K2F)

K2Fly involved the ESG platform Mineral Resources (ASX:MIN) for its mineral resource management and technical assurance solutions in its iron ore and lithium operations.

“We are very excited to have MinRes as our third mining technical warranty customer,” says CEO Nic Pollock.

“This is a significant step in building our mineral resource management and mining engineering assurance suite.

“We look forward to working closely with MinRes to deliver strong block model management and resource management, as well as repeatably improved recovery of their iron ore and lithium deposits.”

The three-year contract has a total contract value (TCV) of $1.75 million and annual recurring revenue (ARR) of $475,000.

TECHNOLOGY ONE (ASX:TNE)

On the 13thth The Software-as-a-Service (SaaS) company reported consecutive years of record after-tax profit of $88.8 million (up 22%), record annual recurring revenue (ARR) of $274.2 million (up 43% growth) and achieved record SaaS fees. $358.7 million (up 22%).

“No enterprise resource planning (ERP) company in the world has successfully transitioned to SaaS without impacting its customers and/or profit growth,” said CEO Ed Chung.

“With our SaaS business growing faster than expected, TechnologyOne is on track to exceed our FY26 target of $500M+ ARR.”

AUDEARA (ASX:AUA)

The audio technology company raised $2.8 million for audiology industry CEO David Lin, CEO of Clinico Inc, at $0.10 per share.

The listing price represents a 23% premium compared to the market closing price on Friday, November 17.

“I believe we can leverage our position to help Audeara explore the Asian market,” Lin said.

ARCHER (ASX:AXE)

This quantum player – for the first time – used the world’s most powerful supercomputers for the most realistic and efficient simulations of 12CQ qubit matter.

The complex atomic structure of the 12CQ qubit material requires the enormous power of supercomputers for predictive modeling and realistic simulation of the properties of the qubit material.

According to the company, the results can be used to support the design and development of complex quantum electronic devices required for the future operation of the 12CQ chip.

LINIUS TECHNOLOGIES (ASX:LNU)

Video technology player Linius has received firm commitments from professional and sophisticated investors to raise $631,500 through an IPO – with the funds “generating new pipeline and creating opportunities for near-term recurring revenue.”

The company said this capital injection, coupled with recent cost reductions, will comfortably provide management with time to roll out services and generate monthly recurring revenue for its recently acquired A-League and Cricket Australia clients, as well as close additional short-term pipelines, significant new regular to generate revenues. and puts the company in a position to “rapidly improve its cash position.”

Today’s K2F, TNE, AUA, AX and LNU share prices:


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