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 cutting edge software technology, 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 NexGen’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.
The acquisition is still subject to the receipt of shareholder approvals and the Company expects to lodge a Notice of Meeting in this regard in October 2015. 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.
NexGen proprietary networking technology will be built into the NGN app to offer not only increased speeds and significantly lower data consumption, but to include privacy protection and...Read More