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X2M Connect Limited ( (AU:X2M) ) has issued an announcement.
X2M Connect Limited has secured a $3 million contract with the City of Seoul to supply 100,000 IoT-connected personal safety devices as part of Seoul’s 2025 Smart City public safety initiative. This project, which integrates with Seoul’s existing smart city infrastructure, aims to enhance urban safety, particularly for women and vulnerable citizens, and is backed by a new South Korean security mandate. The initiative has the potential to expand to 1 million devices, providing significant growth opportunities for X2M in municipal and national government markets. The project not only strengthens X2M’s position in South Korea but also opens avenues for similar solutions in the Australian market and beyond, aligning with urban environments’ digital transformation agendas.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company specializing in Internet of Things (IoT) solutions that enhance productivity, cost efficiency, and public safety for enterprise and government clients, particularly in the utilities sector. The company focuses on connecting devices like water, gas, and electricity meters to the internet for data exchange and remote control, supporting applications in artificial intelligence and machine learning. X2M generates revenue through hardware sales and Software as a Service subscriptions, with a strong presence in the Asia-Pacific region and plans for global expansion.
Average Trading Volume: 150,536
Technical Sentiment Signal: Sell
Current Market Cap: A$7.38M
See more insights into X2M stock on TipRanks’ Stock Analysis page.