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ASX Tech Stocks: Vection Technologies to develop space travel metaverse platform
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- VR1 to develop the first VR metaverse platform dedicated to space travel ahead of NASA’s Artemis Program
- Wisetech drops almost a quarter billion to pick up US logistics platform
- Attura plans to acquire Victorian-based Microsoft provider
Virtual reality player Vection Technologies (ASX:VR1) has executed a Memorandum of Understanding (MoU) to develop the first Virtual Reality (VR) metaverse platform to promote space travel ahead of the Artemis Program – NASA’s program to re-establish a human presence on the Moon for the first time since the Apollo 17 mission in 1972.
Under the terms of the MoU, executed with Thales Alenia Space, Next One Film Group and ALTEC, Vection Technologies has been appointed as exclusive provider of VR and metaverse technologies.
The plan is to capture video imaging data from cameras and sensors onboard space modules and spacecrafts, and transfer the captured video imaging data to ground, for immersive Virtual Reality visualisation by users through a dedicated metaverse platform called Lunar City.
Lunar City will allow the public to “reach space” in a fully immersive virtual reality experience, while enabling astronauts’ training and other educational applications.
The parties also intend to test the technology and commercial opportunities on current space missions with commercial space companies.
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WiseTech Global has picked up landside logistics platform Envase for a US$230 million price tag.
Envase provides transport management system software for intermodal trucking and landside logistics in North America and has more than 1,300 customers including trucking companies, ports, depots, and warehouses.
Envase is expected to generate approximately US$35 million of revenue for the calendar year 2023 with an EBITDA margin in the low to mid 20% range.
WiseTech will fund the transaction via a combination of 70% cash (US$161 million) and
30% new WiseTech Global shares issued to the vendors (equivalent to US$69 million).
The acquisition is expected to complete in February 2023.
IT services company Atturra, through its subsidiary Veritec, is acquiring Melbourne-based Hammond Street Developments (HSD), a specialist Microsoft provider to the government sector including the Victorian public sector, for $6.5m.
The company says the acquisition will have minimal impact on the Atturra FY23 results, with the forecast EBIT offsetting acquisition and integration related expenses.
“The addition of HSD to the Atturra family is highly beneficial for our clients and shareholders and demonstrates our ongoing commitment towards growing our business in the government sector, in particular the Victorian public sector and to Microsoft, one of our main technology partners,” CEO Stephen Kowal said.
“HSD have a very strong client focus which is evident in their recurring revenues across their top 10 clients, and I am looking forward to working with Narendra and the HSD team.”
The transaction is expected to complete on or around 28 February 2023 subject to the satisfaction of conditions precedent.
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