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Nexion Group Ltd. ( (AU:NNG) ) has issued an update.
NEXION Group Ltd announced the sale of its networks business to Pier DC Pty Ltd for $4.1 million, marking a strategic shift in focus towards data center operations and the FuseAI software platform. Post-sale, NEXION will generate recurring revenue from vendor finance repayments and a data center maintenance contract, while building a new team in Perth to drive sales in technical infrastructure maintenance and optimization software. The company plans to seek ASX approval to resume trading its shares in the coming quarter.
More about Nexion Group Ltd.
NEXION Group Ltd is a leading technology provider specializing in infrastructure performance optimization software and associated management services. The company integrates advanced AI and business intelligence tools to enhance industrial asset management, enterprise efficiency, and data-driven decision-making.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.05M
Find detailed analytics on NNG stock on TipRanks’ Stock Analysis page.