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Nexion Group Ltd. ( (AU:NNG) ) has provided an announcement.
NEXION Group Ltd has completed the sale of its subsidiary, Nexion W1 DC Pty Ltd, which owns the Nexion data centre, to Carrier Connect Data Solutions Inc. for AUD $2,500,000. This transaction allows NEXION to strengthen its financial position and focus on its core network and software businesses. The sale is expected to maintain stable revenue for NEXION, as it will continue invoicing customers and receive payment for performing daily data centre operations, while Carrier assumes responsibility for the data centre’s operating costs.
More about Nexion Group Ltd.
NEXION Group Ltd is a leading technology provider specializing in hybrid-cloud and AI-driven solutions. The company operates two main businesses: Networks, which offers secure connectivity, managed network services, and cybersecurity solutions, and Business Intelligence and Artificial Intelligence (BI/AI) through its Fuse Forward subsidiary, focusing on advanced software for industrial asset management and data-driven decision-making.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.05M
See more data about NNG stock on TipRanks’ Stock Analysis page.