Shares in local small cap language translation tech company Straker have soared 49 per cent after it closed a potentially game-changing deal with tech giant IBM.
On Wednesday Straker announced that IBM had signed a two-year deal with the business to use its artificial-intelligence-powered translation services for 55 languages. The contract extends its relationship with the Aussie company, whose services it had been using since 2018, but previously only for Spanish translations.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
