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

  • PlaySide has entered into a mixed reality game development deal with Meta
  • K2Fly software will be used across all of Mineral Resources’ iron ore and lithium operations
  • Technology One reports record profit, record revenue and record SaaS fees for 13Thursday year in a row

Video game developer PlaySide Studios (ASX:PLY) signed a game development deal with Meta to create an interactive mixed reality software product that will be playable on its Quest suite of virtual reality devices.

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“This agreement represents the next evolution of our work at the studio as we leverage our capabilities to conceptualize and develop exciting games in 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 of products, and we’re excited about the opportunity to demonstrate our expertise in this game.”

PlaySide will receive game development payments at agreed upon milestones along with a share of net game revenue in perpetuity.

Meta’s revenue has been declining for several quarters now — it wiped about $90 billion off its market cap in the September quarter — so it will be interesting to see if revenue from this game has an impact.

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

PLY stock price today:

Other tech stocks with notable news:

K2FLY (ASX:K2F)

K2Fly’s ESG platform was involved Mineral Resources (ASX:MIN) for mineral resource management solutions and technical security solutions across iron ore and lithium operations.

“We are thrilled to have MinRes as our third Mining Technical Assurance client,” says CEO Nic Pollock.

“This is a significant step in building our mineral resource management and technical mine security suite.

“We look forward to working closely with MinRes to ensure strong block model governance and resource management, as well as repeatable improved exploitation of their iron ore and lithium deposits.”

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

TECHNOLOGY ONE (ASX:TNE)

For 13Thursday 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%) and record SaaS fees of $358.7 million (up 22%).

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

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

AUDEARA (ASX:AUA)

The audio technology company raised $2.8 million through a $0.10 per share placement to audiology industry professional Mr. David Lin, CEO of Clinico Inc.

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

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

ARCHER (ASX:AXE)

This quantum player used – for the first time ever – some of the most powerful supercomputers in the world to obtain the most realistic and efficient simulations of 12CQ qubit material.

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

And the company says the results can be used to support the design and development of the complex quantum electronic devices needed for the future operation of the 12CQ chip.

LINIUS TECHNOLOGIES (ASX:LNU)

Video tech player Linius has received firm commitments from professional and sophisticated investors to raise $631,500 through a placement – with the funds set to “create new channels and drive short-term recurring revenue opportunities”.

The company says this capital injection, coupled with recent cost reductions, comfortably gives management time to deploy services and generate monthly recurring revenue for recently acquired A-League and Cricket Australia customers, close additional short-term pipelines, generate significant new recurring revenue, and put the company in a position to “rapidly improve its cash position”.

Share prices of K2F, TNE, AUA, AX and LNU today:


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