Activeport Group (ASX:ATV) has jumped over +16% in early afternoon trades as the nanocap tech company reveals it’s expanded into the Middle East, boasting delivery of the region’s first “Network-to-Network Interconnect (NNI) Exchange.”
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For those out of the loop, when ATV references NNI, what it’s really describing is its core product: business enterprise software for telecommunications companies. Where ATV has previously rolled out NNI in Singapore, the company bills its tech as a way for different telco providers to integrate services.
The company has also begun advertising its NNI solution(s) as offering integration with AI data centres, too. (“Of course it has,” the cynic may mutter under their breath. Still, the asset class clearly isn’t going anywhere.)
“Activeport’s growing list of prospective telco customers in MENA can take advantage of this new NNI service to rapidly expand the reach of their networks beyond traditional boundaries,” ATV wrote on Tuesday, highlighting a potential addressable market of A$112 billion.
“Carriers including Etisalat, Saudi Telecom, Zain, Ooredoo and Omantel dominate the region’s communications markets and are all seeking faster ways to cross-connect with other carriers, local AI infrastructure and the Cloud.”
Some HotCopper users called out the gate in the relevant threads that the stock could jump back to 3cps; they’ve been more or less vindicated by 2pm AEDT.
Worth noting is ATV is fairly illiquid (at least compared to tech peers like WTC, maybe an unfair comparison), but at any rate, Tuesday’s surge is on the back of only $305,000 worth of shares trading hands.
Still, ATV’s YTD returns are up just south of +70%.
“As the Middle East digital economy surges, the need for seamless inter-carrier connectivity and cloud on-ramps is set to explode,” company CEO Peter Christie said.
“Activeport’s NNI gateway will be an important asset linking carriers from Asia, India, Africa and Europe to AI Cloud infrastructure in the Middle East.”
ATV last traded at 2.8cps.
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