Bridgeline Digital (NASDAQ:BLIN) stock is taking off on Tuesday thanks to a deal with a government agency in Singapore.
This agreement lasts for three years and has that government agency working with Hawksearch to better its digital experiences. Hawksearch is a site search and recommendation platform mainly used by eCommerce apps.
The government agency out of Singapore is upgrading its website, which is why it’s signing a deal with Hawksearch. The goal is to create a platform that allows for relevant and accurate search data for users.
The agency in this deal is the main tax collector for the Singapore government. As such, it collects taxes that make up roughly 70% of the government’s operating revenue. These funds support the country’s social programs and efforts for quality growth to create an inclusive society.
Ari Kahn, president and CEO of Bridgeline Digital, had the following to say about the news sending BLIN stock higher today.
“This opportunity has opened new doors for Hawksearch to provide intelligent site search for a government agency. It really emphasizes that site search is a tool all websites can use even outside of the eCommerce space.”
BLIN is experiencing heavy trading today thanks to the government deal news. That has more than 43 million shares of the stock changing hads as of this writing. This is a major increase from its daily average trading volume of about 8.1 million shares.
BLIN stock was up 15.8% as of noon Tuesday.
Traders looking for more hot stocks today will want to keep scrolling!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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