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Vection Technologies Ltd. ( (AU:VR1) ) has provided an announcement.
Vection Technologies has secured a $7.2 million extension to its existing defense contract with a European client, focusing on delivering AI products. This order reinforces Vection’s role as a key partner in the client’s digital transformation efforts and is part of a broader multi-year collaboration. The extension is part of a larger budgeted plan, with $19 million allocated for future orders in this vertical. The company expects to fulfill the contract using existing resources, highlighting operational efficiency and strengthening its position in the defense sector.
More about Vection Technologies Ltd.
Vection Technologies is an enterprise-focused company that specializes in bridging the physical and digital worlds through extended reality (XR) interfaces. The company helps organizations leverage 3D data to enhance collaboration, learning, and sales. Vection Technologies is listed on the Australian Securities Exchange, U.S. over-the-counter markets, and Germany’s Frankfurt Stock Exchange.
Average Trading Volume: 12,613,329
Technical Sentiment Signal: Buy
Current Market Cap: A$68.97M
See more data about VR1 stock on TipRanks’ Stock Analysis page.