VTX Holdings Limited is in the process of acquiring NexGen Networks Limited (“NexGen”), having executed a Binding Terms Sheet and completed due diligence. NexGen is a New Zealand based software technology company founded in 2013, by experienced technology entrepreneurs and retail executives Jason Gitmans and Robert Pole.
NexGen has developed the cutting edge Wangle platform, which uses intelligent customised algorithms to optimise data flow between devices and facilitates faster speeds on existing hardware. The ability to deliver such optimal results is due to Wangle’s customised cloud based technology, which re-directs data through to its own proprietary server, delivering faster and more efficient data usage to each user through existing infrastructure.
Shareholder approval will be sought by the Company to complete the Transaction at a General Meeting of Shareholders being held on 23 December 2015. Please click here to read the full Notice of Meeting. For further details about NexGen, please click here, or to read the details of the acquisition, please click here for the ASX announcement dated 16 June 2015.
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