Vection Technologies Ltd (ASX:VR1) Secures $0.7M SaaS Deal in Latin America
Contract Details
Vection Technologies Ltd (ASX:VR1) has entered a three-year agreement with Totalplay Telecomunicaciones S.A. de C.V., valued at a minimum of approximately $0.7 million in revenue. This collaboration integrates Vection’s Enworks XR licenses into Totalplay’s service offerings, focusing on XR and AI-based maintenance solutions and next-gen field support.
Operational Achievements
The agreement strengthens Vection’s presence in Central America and paves the way for expansion into South American markets. Annual sales milestones have been established as incentives for Totalplay to maintain exclusivity as Vection’s distribution partner in the region. The first purchase commitment is set by 30 March 2025, ensuring rapid demonstrations and promotional activities for the Enworks XR plus AI platform.
Executive Comments
Gianmarco Biagi, Vection’s Managing Director, commented, “We’re proud to collaborate with TOTALPLAY to launch our Enworks XR plus AI platform within their robust telecom ecosystem on their Tier 1 global clients.” He added, “This partnership is set to enhance field operations, boost training efficiency, and provide a top-notch customer experience through a focus on maintenance solutions. TOTALPLAY’s market reach in Mexico—and its future expansion prospects into South America—align perfectly with Vection’s growth ambitions.”
Motley Fool contributor Abbie Stokes 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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