Software-company Rubik Financial (ASX: RFL) has been attracting the interest of the market recently, with the stock having its highest volume day on Friday in more than a month.
Rubik's shares have been on the ascendancy during 2013, with the stocks latest close of $0.24 close to four-times higher than the 12-month low of $0.063 back in September 2012.
The company is predominately focused on building software for banks, which includes replacing proprietary systems that were developed before the internet era and have weak security.
In July Rubik entered into a non-binding term sheet for exclusive license arrangement with Revex Solutions Pty Ltd together with an acquisition option.
Revex is revenue management software for Australian Financial Services Licensee’s and financial planning practices offering automated management of revenue, including commissions and client fees as well as relevant business information reporting.
The term sheet entered into is non-binding, with the parties agreeing to negotiate on an exclusive basis for a period of 180 days to agree full form, binding, transaction documentation.
Rubick has over 200 financial sector clients.
RFL Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
