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X2M Connect Limited ( (AU:X2M) ) has issued an announcement.
X2M Connect Limited has secured a significant contract with the City of Seoul for water digitisation, valued at approximately A$0.8 million. This contract involves the installation of remote water meter monitoring for 6,750 households, with completion expected by November 2025. The project is part of Seoul’s broader initiative to digitise all water meters by 2040, representing a potential A$240 million market. This achievement underscores X2M’s growing influence in the smart city ecosystem and its strategic expansion in the Asia-Pacific region, highlighting strong demand for its IoT capabilities.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company specializing in Internet of Things (IoT) solutions for the utilities sector. The company focuses on productivity improvements, cost savings, and public safety enhancements for enterprise and government clients. X2M’s technology connects utility devices to the internet, facilitating data exchange and remote control, and supports artificial intelligence applications. The company generates revenue through hardware sales and Software as a Service subscriptions, with a significant presence in the Asia-Pacific region and expansion efforts in the Middle East.
Average Trading Volume: 1,256,674
Technical Sentiment Signal: Sell
Current Market Cap: A$13.29M
For detailed information about X2M stock, go to TipRanks’ Stock Analysis page.