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Veris Limited (ASX:VRS)

ALERT: Price-sensitive ASX Announcement for VRS
Current share price for VRS : $0.048 -0.007 (-12.73%)+
Announcement
Release
14 Apr 2026 10:03AM
Price at Release
$0.055
Full Release
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Summary
Veris Limited announced its appointment as Octave's authorised Geospatial Distributor across Australia and New Zealand. This agreement marks an expansion of Veris' existing relationship with Hexagon, Octave's parent company, transitioning from a service-based role to include software sales, consulting, training, renewals, and customer management. The deal offers Veris access to Hexagon's established customer base, promising multiple revenue streams from software sales, maintenance, consulting, and training services. Veris expects an initial recurring revenue of approximately $1.2 million per annum, with significant growth potential. The agreement supports Veris' strategy to enhance capital-light, recurring revenue streams aligned with government, defence, utilities, and infrastructure sectors.
Key Points
  • Veris becomes Octave’s authorised Geospatial Distributor in Australia and New Zealand.
  • Octave is a spinoff from Hexagon AB, aiming for a NASDAQ listing in 2026.
  • The agreement expands Veris' role from services to include software sales and support.
  • Veris will gain from Hexagon's established customer base and multiple revenue streams.
  • Initial expectations set recurring revenue at $1.2 million per annum with growth potential.
  • Strategic fit with Veris’ existing services in government, defence, utilities, and infrastructure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.