Daily Roundup

RUL.ASX RTH.ASX IEL.ASX SKS.ASX JIN.ASX

Caterpillar Clears Hurdle in Acquisition of RPMGlobal

RPMGlobal Holdings Limited (ASX: RUL) has received good news, with the Australian Competition and Consumer Commission (ACCC) confirming it will not oppose Caterpillar Inc.'s proposed acquisition of the company. This satisfies a key condition for the scheme of arrangement, though the deal still requires approval from the Foreign Investment Review Board and RPM shareholders.

RPM is a global leader in mining software solutions, serving clients in over 125 countries. The company has been driving innovation in the industry for nearly 50 years, and Caterpillar's acquisition is expected to unlock further growth opportunities.

RAS Technology Shifts Focus to Regulated Markets

RAS Technology Holdings Limited (ASX: RTH) has announced that its Complete Racing Solution contract with Stake will not be renewed after the current two-year term ends in May 2026. Rather than renewing the Stake deal, RAS will concentrate on expanding in regulated markets like Australia, the UK, Europe, the Americas, and the Middle East.

The company also sees significant opportunities to accelerate its growth in the Racing and Sports Asia market. While the Stake contract non-renewal won't materially impact RAS's FY26 financials, it clears the way for the company to pursue more promising avenues for growth.

IDP Education Aligns Revenue Recognition Globally

IDP Education Limited (ASX: IEL) has made a voluntary change to its revenue recognition accounting policy, aligning Student Placement revenue across all jurisdictions at the census date. This will result in revenue being recognized later for Australia and the UK, but have no impact on operating cash flows or banking covenants.

The change will boost IDP's FY25 revenue and net profit, but decrease net assets and retained earnings as of June 30, 2025. Importantly, IDP has reaffirmed its FY26 Adjusted EBIT guidance of $115 million to $125 million, demonstrating the company's confidence in its underlying performance.

SKS Technologies Expands with Delta Elcom Acquisition

SKS Technologies Group Ltd (ASX: SKS) has executed an agreement to acquire the business and assets of Delta Elcom, a specialist electrical and communications company. The $13.75 million to $15 million deal is expected to accelerate SKS's growth plans in the NSW data center market, as well as its traditional sectors.

Delta Elcom's $25 million in annual revenue and expertise in electrical and communications work will complement SKS's offerings. The combined businesses are poised to drive faster growth and a larger market presence for SKS across New South Wales.

Jumbo Interactive Lands Lotterywest Subcontract

Jumbo Interactive Ltd (ASX: JIN) has been awarded a subcontractor role to provide digital components for Lotterywest's new gaming and digital solution, which is being developed by Brightstar Lottery PLC. Jumbo will integrate capabilities from its Jumbo Lottery Platform, including the website, mobile apps, and player account management.

While Jumbo's existing SaaS agreement with Lotterywest remains unchanged, this subcontract represents an opportunity for the company to expand its footprint in the Western Australian lottery market. The transition to the new platform is expected to be completed by Q3 2027.