Azzet reports on three stocks trading higher after reporting updates today.
RPMGlobal flies after revealing its play for takeover
Shares in Brisbane-based RPMGlobal (ASX: RUL) were trading 23.2% higher by 1:45 pm AEST (3:45 am GMT) after the mining software solutions mid-cap signalled to the market that it looks destined to delist following revelations it's in play with Caterpillar Inc (NYSE: CAT) for a potential takeover.
Following the receipt of a non-binding proposal to acquire all shares and options for $5 per share, RPM Global, which entered a trading halt on Friday, told the market this morning it has granted Caterpillar a six-week period of exclusivity to complete confirmatory due diligence and negotiate a binding scheme implementation.
The offer values RPM Global – which last Thursday had a market cap of $832 million - at around $1.1 billion in equity and $1.1 billion in enterprise value.
Given that this represents a 32.6% premium to the last closing price and a 44.2% premium to the one-month VWAP, the board will – assuming there are no superior proposals – recommend the transaction to shareholders.
The price also equates to 14.6 times RPM Global’s software annual recurring revenue of $71.8 million for the 2025–26 financial year.
With the stock’s share price having gone nowhere since early December last year, the prospect of a 32.6%-plus premium to the last closing price is expected to receive shareholder interest.
However, Caterpillar is not the only party to have put in a bid.
It’s understood that at least four parties, including Epiroc, a Swedish mining equipment manufacturer, have also expressed interest in RPM Global at around the $5 per share mark.
Epiroc may be more determined to acquire RPM Global given that it was one of the failed bidders for rival ASX-listed mining software business Micromine, which was acquired by UK-based engineering company Weir Capital for $1.3 billion earlier this year.
What’s also understood to have attracted global strategic buyers to RMP Global is its recent decision to sell its RPM Advisory Services to SLR Consulting Australia earlier this year for $63 million.
The stock’s share price rallied from $3.22 to $3.53 on the 26th of August after reporting strong annual earnings and providing an upbeat outlook for 2026.
RPM Global notes in its annual FY25 results announced last week that of the $100.8 million in software sold during the year, only $6.3 million was recognised in the financial accounts.
At the end of June, the company had $200 million in pre-contracted, non-cancellable, recurring multi-year software revenue, which the company says will be recognised in future years - up $39.0 million or 24% from the same time last year.
RPM Global has a market cap of $1 bullion; the share price is up 74% in one year and up 45% in the last week.
The stock appears to be in a strong bullish trend confirmed by multiple indicators.
Consensus is Strong Buy.
Activeport Group soars on first software-driven carrier exchange
Shares in Activeport Group (ASX: ATV) were up 21.7% after the software solutions small-cap told the market it had launched Asia’s first software-defined Network-to-Network Interconnect (NNI) exchange in Singapore, enabling carriers to link seamlessly and extend services across borders.
To the uninitiated, Activeport develops software for telcos and data centre operators.
It’s understood that the NNI exchange lets carriers to leverage Activeport’s advanced APIs and orchestration software to automate virtual circuit provisioning.
The net effect is that it extends their networks globally and increases their revenue earning opportunities.
Starting with two of Asia’s largest carriers as foundational partners, the NNI Exchange is set to transform how enterprises access high-speed connectivity across borders.
At launch, Activeport will integrate Megaport's (ASX: MP1) new Network Interconnect product to more than 1,000 data centres - in 165 cities throughout 26 countries worldwide - while Activeport’s software automates provisioning, billing, and service delivery.
The go-live date for the NNI Exchange is scheduled for Q2 FY26, and starting with existing customers, will seek to rapidly connect new tier-1 telco operators to the service.
Activeport is also in advanced discussions with a number of Asian and Indian carriers to participate in this first NNI node in Singapore.
Commenting on today’s update, Peter Christie, CEO of Activeport, told the market that as Asia’s digital economy surges, the need for seamless inter-carrier connectivity has never been greater.
“Our NNI Exchange in Singapore, powered by Activeport’s orchestration software, will enable telcos to automate global reach for their customers,” he said.
“By integrating Megaport’s latest Network to Network Interconnect product, we’re also creating an extended virtual data centre network for telco, with transparent ports and automated provisioning that provides instant global reach.”
Revenue expected to come from scalable software licensing, with carriers paying port fees and monthly rates for circuits. The go-live is targeted for Q2 2026, with advanced talks underway with major Asian and Indian carriers.
Driven by rising demand for cross-border enterprise connectivity and AI workloads, the group projects the Asia-Pacific telecommunications interconnection market to grow at a compound annual growth rate (CAGR) of 13.7% from 2025 to 2030.
Meanwhile, the global network as a service (NaaS) market is expected to reach US$162.41 billion by 2032 at a CAGR of 25.8%.
While Activeport expects its NNI Exchange to capture a substantial share by providing automated, secure, and cost-effective solutions for carriers, it did not guide to future earnings upside.
Activeport Group has a market cap of $28 million; the share price is down 26% in one year and up 120% in the last month.
The stock appears to be in a Medium-term rally, confirmed by multiple indicators.
Consensus does not cover this stock.
4D Medical rockets on FDA green light
Shares in 4DMedical (ASX: 4DX) were up around 32.5% after the respiratory imaging technology company received U.S. FDA 510(k) clearance for its CT:VQ imaging system, the world’s first non-contrast, CT-based ventilation–perfusion technology.
Unlike traditional nuclear VQ scans that require radiotracers, CT:VQ is said to extract lung airflow and blood flow data directly from routine CT scans, offering safer, faster, and more accessible diagnostics.
With over one million VQ scans conducted annually in the U.S, management estimates an addressable market of US$1.1 billion.
As well as capturing a significant part of this market, management expects to displace nuclear scans entirely and expand into new applications such as disease monitoring and screening.
The company also expects to potentially grow the current ventilation-perfusion market into new applications in disease monitoring and screening, due to the wide availability of CT infrastructure globally.
The company will hold an investor webinar tomorrow, Tuesday, 2 September 2025, at 11 am AEST.
The company delivered operating revenue for FY25 of $5.9 million, up 56% on FY24, with gross margins exceeding 90%.
The company’s cash balance as at 30 June 2025 was $16.9 million, including the recently announced injection by the strategic investment from Pro Medicus of $10.0 million.
The company is also expecting receipt of its annual R&D tax credit of $6.0 million.
4DMedical has a market cap of $360 million; the share price is up 76% in one year and 44% in the last week.
The stock appears to be in a Medium-term rally, confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
