‘Internet of Things’ Company Xped Lists on ASX
Xped’s primary asset is its ADRC technology (Auto Discovery Remote Control), which enables users to control a multitude of general household and industrial items right from a user’s smartphone and/or tablet
Newly listed Xped Ltd (ASX: XPE) listed on the ASX today following a reverse takeover of exploration company Raya Group. Xped specialises in the development of its ADRC technology and has temporarily surged over 15% on the open, to $0.038 cents, following the signing of a MOU with a US listed company.
What is ADRC Technology?
As mentioned above, Xped’s primary asset is its ADRC technology (Auto Discovery Remote Control), which enables users to control a multitude of general household and industrial items right from a user’s smartphone and/or tablet, through one master app known as a ‘Device Browser’, or ‘DeB’ for short.
Development of this technology commenced seven years ago, with the technology currently within the commercialisation phase. The IP that is associated with this technology is protected by a granted patent in the US, along with more patent applications in 13 countries.
However, dependent on the results of current user trials, Xped aims to commercialise this technology, through licensing agreements with various third parties.
MOU with a US Listed Company
Additionally, Xped has signed an MOU (Memorandum of Understanding) with an unnamed US listed company. The MOU focuses on identifying and developing potential business transactions for Xped’s ADRC technology.
The US technology company has requested for their identity to remain hidden, until both parties progress further as agreed in the guidelines of the MOU.
Xped’s Chairman and CEO Chris Wood was quite pleased with the establishment of the MOU: “We are proud to be working with a world leader in this industry that shares Xped’s innovative spirit on these opportunities. They have been very supportive of Xped, which demonstrates a distinct positive culture in their organization. Together we have been able to forge a strong collaboration over recent months, our teams have worked together to validate and realise the value of our combines strengths in IoT, big data, cloud services and through their global footprint we believe our technology will provide access to new channels and revenue opportunities for both companies.”
This is the second MoU Xped has recently secured, with international companies showing gradual interest in their ADRC technology.
Author: Ben Khouri
Apr 05, 2016
Ben Khouri is a financial editor for Wise-Owl with a particular focus on the top ASX 300 companies. Having a vast background in economics and finance, Ben provides financial commentary & analysis as well as global market updates, which guide investors in devising investment strategies. Ben specialises in analysing economic data and global events from around the world and examines the impacts they have on the major equity markets.