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NEXION Group - COO, Kevin Read (left) and CEO, Paul Glass (right) - The Market Herald
COO, Kevin Read (left) and CEO, Paul Glass (right)
Source: iTWire
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  • NEXION Group (NNG) has signed a new multi-million-dollar contract with the Australian branch of international tech giant IBM
  • Through a five-year contract with group company NEXION Networks, NEXION will develop and deploy a hybrid cloud solution for IBM, building on the company’s knowledge in infrastructure-as-a-service, SD-WAN and secure networking
  • The solution will service an undisclosed IBM project in Western Australia, and the exact value of the deal still remains unclear
  • This is the second contract NEXION has nabbed with IBM in the last year
  • NEXION Group is trading in the grey at 30 cents per share

In its first week on the ASX, NEXION Group (NNG) has signed a new multi-million-dollar contract with the Australian branch of international tech giant IBM.

Through a five-year contract with group company NEXION Networks, NEXION will develop and deploy a hybrid cloud solution for IBM, building on the company’s knowledge in infrastructure-as-a-service, SD-WAN and secure networking.

The solution will service an undisclosed IBM project in Western Australia, and the exact value of the deal still remains unclear. Notably, this is the second contract NEXION has nabbed with IBM in the last year.

NEXION COO, Kevin Read said the company was excited to be working with recognised global technology leader like IBM.

“This deal helps underpin our global growth strategy based on key partnerships and to have a company of IBM’s calibre select NEXION is a phenomenal outcome. Hybrid Cloud is one of the fastest-growing cloud segments and NEXION is proud to be an emerging global cloud, security, networking and data centre player,” he added.

The group launched its shares onto the ASX just last week, following an $8 million IPO at 20 cents a pop. Since listing on the exchange, NNG shares have had a notable first week, rising as high as 37 cents in its first few days on the market before dropping off a little in trading this week.

NEXION Group is trading in the grey at 30 cents per share at 10:00 am AEDT.

NNG by the numbers
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