Vection Technologies Secures a AU$1.8 Million Defense Contract

MT Newswires Live

Jan 06, 2025

Vection Technologies (ASX:VR1) said it secured a AU$1.8 million contract with a technology service provider, which will provide services to a European local government, according to a Monday Australian bourse filing.

The provider specializes in cybersecurity and infrastructure security solutions for law enforcement, government agencies, and security agencies, the filing said.

The scope of the agreement includes delivering artificial intelligence-driven information and communication technology endpoints and extended reality solutions to support national security operations, as per the filing.

The revenue associated with the agreement will be recognized across fiscal year 2025, the filing added.

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