Nexion Tech (08420) to form strategic partnership with XOX

   Nexion Technologies Limited (08420) said the company and XOX Bhd (XOX) have entered into a provisional technology partnership agreement to establish a long-term and stable strategic partnership in order to enhance the parties' competitiveness and expand the scope of products and services offered by the parties.
  The parties have agreed to negotiate further to finalise the formal agreement for the partnership setting out, including (i) the products and services to be provided by the group, i.e. the supply of its equipment and system to XOX Group for the cybersecurity risk and susceptible to data breaches, malware attack and phishing exposed by digital transformation; the services to be provided by the XOX Group, i.e. assisting the group to operate software-as-a-service (SaaS) platform to provide integrated services to individuals and enterprises in Malaysia; (iii) the parties will enter into a cooperation about operation of a sharing economy clearing payment platform through SaaS system in Malaysia and other countries; the parties will strengthen technical exchanges in relation to digital technology, intelligent, cyber infrastructure solutions and cyber security solutions; and (v) the group will supply to the XOX Group the cyber security system of new mobile subscription plan based on embedded SIM card technology in Malaysia.
  XOX Group engages principally in the provision of mobile telecommunication products and services without having its licensed frequency allocation of radio spectrum, mobile and digital network infrastructure. It operates as an enhanced service provider, where it controls all aspects of its subscriber relationships, including the brand name, pricing, content, advertising and marketing, customer care and information technology platform.