Australia's Vection Technologies hits more than 1-month high on $1 mln contract win

Vection Technologies

06/01/2025 24:34

** Vection Technologies  VR1.AX  gains as much as 5.9% to
A$0.036, highest since Nov. 26, 2024
    ** Enterprise software firm secures defence contract worth
A$1.8 mln ($1.1 mln) from a tech service provider specializing
in cyber-security
    ** Says service will ultimately be provided to a European
local government
    ** Adds contract advances co's strategy to infuse AI and XR
technologies into key operations, increasing its standing in
defence, law enforcement and government sectors
    ** Stock set for three consecutive sessions of gains
    ** VR1 gained ~43% last year
    
($1 = A$1.6075)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))