Four exciting small cap tech shares listed on the Australian share market that I think investors should be better acquainted with are listed below.

Here's why I like them:

Data Exchange Network Limited (ASX: DXN)

Data Exchange Network is a new listing on the ASX and a company aiming to capitalise on the growing demand for data centre services brought about by the incredible rise of cloud computing. As well as opening two data centres of its own in Melbourne and Sydney, the company builds modular data centres on demand on behalf of its customers.

ELMO Software Ltd (ASX: ELO)

I think that this cloud-based talent management software solutions provider could have a bright future ahead of it based on its progress so far. ELMO smashed expectations in FY 2017 and is on course to do so again in FY 2018 thanks to the strong demand it is experiencing for its services. This strong performance recently enabled the company to raise $45 million from institutional investors to accelerate its growth.

Gentrack Group Ltd (ASX: GTK)

Gentrack is a billing software provider that provides its services to airports, water, and electricity companies. It has an impressive and fast-growing customer list which includes one of the world's largest energy utility service providers, E.ON. Thanks to the quality and stickiness of its product, I expect Gentrack's recurring revenues to grow at a solid rate over the next few years.

Hub24 Ltd (ASX: HUB)

This investment and superannuation platform provider continues to go from strength to strength and recently reported a 42% increase in net inflows on its platform to $595 million. This lifted its total funds under administration to $7.4 billion at the end of the third quarter. While its shares are changing hands at a lofty 55x estimated FY 2019 earnings, I do think its current growth profile goes some way to justifying this premium.

The post 4 small cap tech shares I would buy today appeared first on The Motley Fool Australia.

NEXTDC will defend claims it denied Asia Pacific Data Centre (ADPC) access to its three property sites in Sydney, Melbourne and Perth, as APDC attempted to allow prospective purchasers to inspect the real estate.

The fresh legal action comes after a 2017 issue involving 360 Capital Group Ltd (ASX: TGP), after 360 made an overture for a controlling stake in ADPC, which NEXTDC tried to block.

Investors are obviously spooked by the drama within NEXTDC ranks and the company trades at a very high PE ratio of 167.8, increasing its risk profile substantially.

A new player has emerged in the space recently, with Data Exchange Network Ltd (ASX: DXN) grabbing the attention of Macquarie Group Ltd (ASX: MQG) who took up a 5.4% holding in the company.

Other tech stocks to watch today include software company Bravura Solutions Ltd (ASX: BVS) and Xero Limited (ASX: XRO), both of which are down today after flying to 52-week high territory earlier in the week.

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