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Hybrid cloud provider Nexion lists on the ASX

February 23, 2021

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Hybrid cloud provider Nexion lists on the ASX

While most companies have now adopted cloud, the shift has not been seamless. A high percentage of global organisations are still yet to fully adopt cloud, due to their ongoing reliance on incompatible legacy equipment. 

While most companies have now adopted cloud, the shift has not been seamless. A high percentage of global organisations are still yet to fully adopt cloud, due to their ongoing reliance on incompatible legacy equipment. 

But an Australian company, Nexion (ASX: NNG) is breaking down those barriers to entry with its hybrid cloud service – Cloud One, a cost effective, low latency way for global enterprises to access the cloud, with added security and compatibility with legacy equipment.

 

“With the hybrid cloud, you can put your own servers in and you know your information is in the country,” Nexion CEO Paul Glass said on The Insider.

 

“You know your information is secure in the local hybrid cloud node and connected to all major network providers and Nexion’s Aryaka Pop in Perth. It allows you to have the benefits of both public and private cloud on a single platform.”

Mr Glass recently led the company through a successful IPO, which saw the company raise $8 million through the issue of 40 million shares at 20 cents each. The price has rallied since the company’s February 18 float, to hit 36 cents by end of trade on Monday 22 February.

And there are bright days ahead too, according to Mr Glass, with the hybrid cloud market tipped to grow from $44 billion in 2018 to nearly $100 billion in 2023.

 

“It’s the fastest growing cloud market,” he said.

 

Nexion is reaping the financial benefits and gaining industry respect within this evolving market. Since its inception in 2017, Nexion has been a highly awarded company, winning among others, the ARN Innovation Awards in 2020 for Start-up of the year, as well as number 14 in the CRN Fast 50, Australia’s fastest growing IT companies .

 

“That’s measured on revenue growth. To be fourteenth out of all the IT companies in Australia was a phenomenal achievement,” said Paul.

 

Nexion’s success caught the attention of Aryaka, an American company that specialises in Global SD-WAN. SD-WAN is a technology that enables companies to connect multiple offices around the world without traditional, expensive fixed line services.

“SD-WAN reduces cost heavily, improves latency and improves services,” said Paul

As part of the agreement, Nexion is building additional points of presence on Aryaka’s behalf into locations that are unserviced by the major providers such as Perth, Adelaide, Auckland and Africa.

 

“We’re excited to be in the tech industry. We’re a young, excited company and certainly set the company up with global aspirations to connect Australia to the world with hybrid cloud and global SD-WAN,” said Paul.

 

Nexion’s Group CEO Paul Glass recently joined us for our fortnightly webcast ‘The Insider: Meet the CEOs’. This article summarises some of the information he shared with us during the session. You can watch a full recording below, or you can click here to book into our next session where we will be joined by Pureprofile (ASX:PPL), PointsBet (ASX: PBH) and Auctus Investments Group (ASX: AVC).

‘The Insider’ is a great way to hear directly from the CEOs of fast growing Australian businesses. You will get valuable insights to their industries and companies future prospects.

 

The Insider: Meet the CEOs – Event Details:

Date: Wednesday, 3rd March
Time: 12pm AEDT
Format: Online, 3 x 15 minute presentations

This is a free event. Click here to book your spot.

 

Sources:

 

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