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X2M Connect Limited ( (AU:X2M) ) has issued an announcement.
X2M Connect Limited’s strategic partner, Dicode Smart Connect Electronics, has secured a significant contract in the UAE to install smart meters in 10,000 apartments, marking its second major contract in the region this year. X2M is investing in Dicode, taking a 7% equity stake, and Dicode will exclusively use X2M’s technology for a decade, positioning X2M as a key player in the Middle East’s smart infrastructure sector.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company specializing in Internet of Things (IoT) solutions for the utilities sector. The company focuses on connecting devices such as water, gas, and electricity meters to the internet, enabling data exchange and remote control. X2M targets the utility sector, leveraging its technology for productivity improvements and cost savings, with a significant presence in the Asia-Pacific region and plans for global expansion.
Average Trading Volume: 629,664
Technical Sentiment Signal: Sell
Current Market Cap: A$6.96M
For a thorough assessment of X2M stock, go to TipRanks’ Stock Analysis page.