NetLinkz Limited (ASX: NET) today announced Beijing iLinkAll Science and Technology Co. Ltd (iLinkAll) has been selected by the Beijing Municipal Bureau of Economic and Information Technology as an approved provider of Remote Office collaboration solutions in an initiative to fight the coronavirus and enable people in Beijing to work and receive information safely and securely (see Appendix A). Netlinkz owns 80 per cent of iLinkAll with an iSoftStone entity controlling 20 per cent.
The new equity raising ($4.5m) announced today provides funding to support an anticipated escalation in sales by iLinkAll of its Virtual Secure Network (VSN) as a result of the Beijing Government’s selection. ILinkAll will contract directly with Chinese enterprises to provide its VSN solution as a Beijing Municipal Government selected provider. At the time of the announcement the terms of any engagement with Chinese businesses or communities have not been finalised. The Beijing Municipal Government has not placed any term or limit on iLinkAll’s selection. While there is no guarantee of additional revenue, this represents an opportunity to widely demonstrate VSN’s technical solutions. There are no other providers that have been selected by the Government that have the same offering of remote secure connectivity solutions as offered by the VSN.
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