X2M Connect Limited (AU:X2M) has released an update.
Australian IoT tech firm X2M Connect Limited has announced a lucrative 10-year licensing deal with Dicode Technologies LLC for their ‘Vision by X2M’ platform in the Middle East, beginning with the UAE. The agreement, pivotal for X2M’s Middle Eastern expansion, is expected to generate approximately A$0.4 million in EBITDA annually per 100,000 smart devices installed. This move capitalizes on the UAE’s smart metering mandate and Dicode’s unique ‘Metering as a Service’ offering, positioning X2M strategically in a region with a vast market opportunity for utility digitization.
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