Vection Technologies' Takeover Target Secures AU$1.6 Million AI Software License Contract; Shares Jump 24%

MT Newswires Live

2024/11/01

Vection Technologies (ASX:VR1) said takeover target The Digital Box secured a AU$1.6 million artificial intelligence software license contract for the Brexia Med healthcare project.

The three-year contract includes an extension option for an additional two years, which can potentially raise its total value by AU$1 million, according to a Friday filing with the Australian bourse.

Vection Technologies' acquisition of The Digital Box is slated for settlement in the fiscal second quarter of 2025.

Shares of Vection Technologies jumped 24% in recent trade.

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