Reffind Ltd. (ASX:RFN)
Following a board and management restructure, today’s cashed-up company has shifted its business strategy to acquisitions and strategic investment in blockchain companies.
It is no surprise this company has blockchain and Distributed Ledger Technology in its sights.
It is estimated that these new technologies could amount to about $15 billion to $35 billion in annual expense and capital cost savings across global financial markets.
With cash reserves of $3.7 million following a $1.6 million placement, today’s company is focusing on acquisitions in mobile commerce products such as security and Blockchain based business processes to complement its current product offerings in the talent acquisition and human resources spaces.
Today’s $8 million capped company, will target opportunities in the fast growth ASEAN / APAC regions. This includes synergistic SaaS products, as well as Blockchain based business process applications (BaaS).
The company believes that Blockchain-as-a-Service (BaaS) solutions will fast track its journey to the next level in terms of scalability and application, particularly as it looks to dominate a region where tech spend is forecast to grow by 6% in 2018 and where anticipated software spend will reach $129 billion.
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With a low valuation and strong cash position, this acquisition-focused company represents a reasonably-priced entry into cutting-edge blockchain/crypto technology market.