NEXION, IBM strike $4m deal

NEXION Networks has signed a contract with multinational technology business IBM to deploy a series of its cloud services products in WA.

The contract, which is expected to deliver the company about $4 million in revenue and concerns an undetailed project, has a five-year duration and builds on existing contracts with IBM and US-based outfit Aryaka.

Chief operating officer and co-founder Kevin Read said he was excited about the partnership with 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,” he said.

Today’s news follows on from the company’s listing this past week following an $8 million IPO.

Shares in the business were trading at 34 cents as of 1pm AEDT, up 4 cents on opening.