Viewbix Says Quantum Gyro Achieved 'Significant Results' in Developing Quantum Gyroscope Technology

MT Newswires Live

01/06

Viewbix (VBIX) said Tuesday that Quantum Gyro has achieved "significant results" in certain critical components of its development of gyroscope technology for advanced navigation solutions.

Quantum Gyro is a portfolio company of Quantum X Labs, which Viewbix is set to acquire, the company said.

Viewbix said Quantum Gyro plans to complete laboratory experiment and step up its testing and experimentation efforts to advance the technology. It also plans to accelerate meetings with strategic customers and partners for the technology's application in the aerospace and defense sectors, Viewbix added.

In December, Viewbix signed a definitive share purchase agreement to acquire 85% to 100% of Quantum X Labs' outstanding share capital. The company said Monday that majority of its shareholders approved the transaction, which is expected to close in the coming weeks.

Price: 1.64, Change: -0.07, Percent Change: -4.04

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