XTEK flies into urban planning market
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XTEK Limited (ASX:XTE) could potentially provide data for urban planners and developers from the sky, announcing that it had acquired 3D data player Simmersion.
Simmersion is a specialist service in the 3D modelling and simulation market, mainly focused on urban planning.
Its data sets are frequently used by city planners and developers to visualise urban planning scenarios as part of the property development process.
XTE said Simmersion would operate as a subsidiary, and there was scope for its Unmanned Aircraft System business to “potentially align” with that of Simmersion to provide data services for Simmersion in the future.
So far XTE has mainly pitched itself in the Australian Homeland Security market, but is increasingly talking about the potential of its drone fleet.
Its drones are able to provide real-time contextual videos to operators, and have that video overlay Google Map data.
This means it can provide mapping services over and area in real time, and with great detail.
It has talked about potential in several industries, but this marks a concrete move into the urban planning market.
175,000 XTE shares are being issued to Simmersion shareholders on a pro-rata basis.
About XTEK (ASX:XTE)
XTEK Limited (XTEK) is a specialist in homeland security and provides high-quality protective security, tactical and forensics solutions to the government, law enforcement, military and commercial sectors.
XTEK specialises in unmanned aerial vehicles, namely drones and armour and is an Australian Defence Force Recognised Supplier, who is currently testing its products with the US military.
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