Jemsoft acquisition looks interesting. It be great to see their demo to understand more of their product. Hopefully cbed can find the link.
From zdnet's article below, stated that Jemsoft will complete Xped's end-to-end IoT platform with "visual sensor".
"The acquisition will allow Xped -- which offers a platform that enables consumers of all technical capabilities to connect, monitor, and control everyday devices and appliances through their smartphones -- to provide an in-house AI solution to clients looking to enhance their IoT products using visual sensors."
"Xped's success doing deals with companies in the US and China, specifically with device manufacturers and the successes they've had in gaining adoption of their technology at the chip and module levels, showed us they're the right partner to fulfil our vision of providing the most usable and accessible cognitive computing products and services in the world," Green said in a statement.
Mr Green seems very positive of Xped's success as of todate. He probably knows more than us since he has entered into an agreement with Xped.
The pair are now set to launch their intelligent software solution, which has already been licenced to a multinational consumer goods company for half a million dollars – and that is just one of a number of clients knocking on their door. Based on their contract pipeline, Jemsoft are now projecting $20 million in revenue this year (2016).
So, the acquisition cost to Xped is $900K ($700K shares + $200K cash [for receivables]). They already have a licensing agreement with a multinational consumer goods company for $500K (confirmed based on article) and projected $20 million in revenue for 2016 (questionable).
I presume the 50 million of shares will be allotted to them "now" - ie before share consolidation (if materialises - still hoping the Board will cancel the proposal). 25 million each partner and after consolidation, 12.5 million shares each. They will be on Top 20 SH - I see it as tightening the share registry, for a start (yes, that provided they don't sell their shares).
My question now is - are these investors (Green and Rich) supposed to be part of the Future Placement Shares or are they additional investors on top of the Future Placement Shares?
XPE Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
