VCI Global (NASDAQ:VCIG) shares continue to garner investors’ attention on major developments. After closing 156% higher yesterday, shares of the business and technology advisory services provider are down nearly 23% at the time of writing today.
VCI has teamed up with Cogia GmbH, a German software provider, to distribute its Socializer Messenger. The Socializer Messenger is an AI-based, military-grade tool offering complete data encryption and privacy protection.
VCI will exclusively distribute the tool in Southeast Asian countries and non-exclusively in geographies outside Southeast Asia. Importantly, the company will rake in a percentage of the revenue earned from the sales, and Dato’ Victor Hoo, the Group Executive Chairman and CEO of VCI commented, “This distributorship will open up yet another revenue stream for us which will undoubtedly increase VCI Global’s value.”
The development comes fresh on the heels of VCI entering into talks with Fusionex Group on providing AI and big data services to its customers. The company will harness Fusionex’s Analytics GIANT solution to cater to its clients.
VCI shares have now gained nearly 70.6% so far this year. The stock is trading on volumes of nearly 118.2 million as compared to an average trading volume of 777,400 shares over the past three months.
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