Unith Ltd (ASX:UNT) sold some of its stake in AudioStack for about $500,000 to boost its cash position, according to a Monday Australian bourse filing.
The divestment would help the firm to invest in further growth and development initiatives.
Unith's remaining stake in AudioStack is valued at about $1.5 million. It renewed its partnership to use AudioStack AI audio technology in the UNITH Digital Human platform for 24 months.
It also renewed an existing contract with business-to-business enterprise client Alliance for Public Health in support of TWIIN, a digital assistant for healthcare delivery in crisis-based settings.
The one-year contract extension includes a license-only arrangement for additional services.
Its shares surged past 8% in recent trading on Monday.
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