Vection Technologies Ltd (ASX:VR1) Expands European Presence
Distribution Deal with Synergy
Vection Technologies Ltd (ASX:VR1, OTC:VCTNY) has signed a distribution agreement with Synergy Simulation and Training Ltd to strengthen its market presence in Bulgaria. The agreement aims for approximately $600,000 in revenue by 2027, with annual targets of $166,000 for 2025 and 2026, and $250,000 in 2027.
Partnership with DigiLens
Additionally, Vection has partnered with DigiLens Inc., a leader in nanotechnology for waveguide display technologies. This collaboration will integrate Vection’s XR applications into DigiLens ARGO smart glasses, enhancing its offerings for mission-critical industries. The partnership improves cyber security and spatial computing capabilities, allowing Vection to expand its geographical reach.
Executive Comments
Gianmarco Biagi, Managing Director of Vection Technologies, stated, “Our distribution agreement with Synergy is another key step in our expansion into the European market as we continue to drive the adoption of our XR solutions in Europe and beyond.” He further noted that the partnership with DigiLens strengthens their ecosystem, enabling the delivery of future-ready XR solutions for critical industries, which enhances productivity in the field. Brian Hamilton, VP of Sales and Marketing at DigiLens, expressed excitement regarding the partnership, stating, “DigiLens is excited to partner with Vection. Together, ARGO and Vection’s app infrastructure deliver a market-ready solution that will shape the future of mobile and spatial computing.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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