XTEK flies into urban planning market
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.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.