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VTX Holdings: Wangle To Tap African Enterprise Market

VTX Holdings (ASX:VTX) is currently finalising the acquisition of NexGen Networks, and then the company will transition to Wangle Technologies.

"Wangle" is NexGen's web optimisation platform.

This platform positions the company at the forefront of a rapidly growing mobile Internet market.

Wangle is now entering the African enterprise market via an exclusive partnership agreement with Spinova Pty Limited.

Spinova specialises in facilitating the entry of technology companies into emerging markets, and holds strong, long standing relationships with leading enterprises throughout the African continent.

Under the agreement, Spinova will promote NexGen's revolutionary Wangle platform and facilitate opportunities for commercial growth across the African telecoms.

This market is forecast to be worth over US$65 billion by 2018.

Jason Gitmans, CEO, NexGen, commented: "We are extremely pleased with the third party recognition and validation from Spinova for our Wangle platform and offering.

"This agreement opens up significant revenue potential in a region and enterprise market that is largely untapped and has the fastest growing mobile subscriber population in the world.

"With the support and recognition of Spinova, we are excited by the opportunity and potential for our enterprise software in the African continent, which will form the basis of our global enterprise offering."

Agreement roll-out

Partnership agreement will commence via a four stage testing roll out program:

- Stage 1: Initial proof of concept to commence at Stellenbosch University Data Centre in Cape Town, South Africa.

- Stage 2: Opportunity and prospects for Wangle's use over university local area networks.

- Stage 3: Exploration of Wangle's use over long distances, Country-wide.

- Stage 4: Exploration of the potential for Wangle's use across the continent.

Analysis

Today's agreement provides strong validation for the Wangle platform and provides third party validation of its competitive and defensive offering to the enterprise market.

The partnership opens up significant revenue potential for Wangle, with Spinova already in advanced discussions with leading African companies.

Upcoming catalyst:

A shareholder meeting to consider the name change to Wangle Technologies and vote for the acquisition is being held on December 23.

Find out more, click here: VTX Holdings' Andrew Haythorpe in Proactive Q&A Sessions™

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