The Dubber Corp Ltd (ASX: DUB) share price is on the backfoot this afternoon. The comes after the company announced a new partnership agreement.
During mid-afternoon trade, the cloud-based software-as-a-service (SaaS) company's shares are down 5.6% to $3.20.
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What did Dubber announce?
Investors appear unfazed by the company's latest win, sending the Dubber share price lower.
According to its release, Dubber has been selected by BT as the default recording and conversational intelligence provider.
Based in the United Kingdom, BT (formerly British Telecom) is one of the world's leading providers of global communications services and solutions. The company caters to customers in 180 countries.
The multi-year partnership will see BT deliver unified call recording (UCR) to a number of large organisations across the globe. Both Dubber and BT have worked together on implementing UCR services targeting major financial institutions.
While the deal opens a new revenue stream for Dubber, additional revenues will depend on the uptake from BT customers.
However, the deal has done little to help the Dubber share price today.
Dubber CEO Steve McGovern commented:
The newly released managed service offerings will enable BT to continue to demonstrate its innovation leadership. Multinational organisations can now depend on BT for the high-performing secure connections it is known for, but now also for delivering outstanding value from the content inside every conversation on BT services.
For Dubber it marks another milestone in our journey to Dub the world's leading networks, AI-enabling every endpoint, and creating high-value technology and distribution partnerships based on our Foundation model.
Quick take on Dubber
Dubber is a cloud call recording and data capture company that provides unified communication products to its clients. The company's technology enables voice calls to be analysed and turned into data for process improvement.
Data analytics and artificial intelligence play a crucial role in generating new business value, lowering costs, and improving customer experience. UCR allows recording and replay of any conversation, whether it be voice, video, or text. This helps businesses meet their compliance obligations and enhances employee training.
Dubber share price summary
Over the past 12 months, the Dubber share price has accelerated to post a gain of almost 90%.
Having reached a multi-year high of $4.33 in September, the company's shares nosedived over the following month. However, they have since moved in circles.
Based on the current share price, Dubber commands a market capitalisation of roughly $953 million.
