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An announcement from Nexion Group Ltd. ( (AU:NNG) ) is now available.
NEXION Group Ltd has signed a non-binding letter of intent to sell its subsidiary, Nexion W1 DC Pty Ltd, which owns its data centre, to Canadian company Carrier Connect Data Solutions Inc. for AUD $2.5 million. The proceeds from the sale will be used to repay debt, cover administrative expenses, and provide working capital, with the transaction expected to be net cash positive for Nexion. There are no proposed changes to the board or senior management as a result of this transaction.
More about Nexion Group Ltd.
NEXION Group Ltd is a company that integrates software, compute, storage, network, and cybersecurity to deliver reliable and robust hybrid-cloud systems. It owns a 2MW data centre in Perth, Western Australia, which it uses to host compute and storage equipment and deliver cloud services.
Technical Sentiment Signal: Hold
Current Market Cap: A$4.05M
For a thorough assessment of NNG stock, go to TipRanks’ Stock Analysis page.