Ann: ASSET: RAK: Rakon Invests Into Internet of Things Company

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    • Release Date: 18/12/15 08:30
    • Summary: ASSET: RAK: Rakon Invests Into Internet of Things Company
    • Price Sensitive: No
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    					RAK
    18/12/2015 08:30
    ASSET
    NOT PRICE SENSITIVE
    REL: 0830 HRS Rakon Limited
    
    ASSET: RAK: Rakon Invests Into Internet of Things Company
    
    18 DECEMBER 2015
    RAKON LIMITED (NZX: RAK)
    
    RAKON INVESTS INTO INTERNET OF THINGS COMPANY
    
    Rakon Limited ("Rakon" or "the Company") today announces the completion of an
    equity investment in Australian company Thinxtra Pty Limited ("Thinxtra").
    The Company will invest AUD 800,000 for a 11.4% shareholding.
    
    Thinxtra is an Internet of Things (IoT) business that plans to launch
    operations in Australia and New Zealand in the second quarter of 2016.
    Thinxtra's focus is on bringing a network, products, services and solutions
    to customers having machine-to-machine (M2M) communication needs, or
    themselves providing M2M products and solutions to their own customer base.
    
    Rakon sees opportunities ahead with the IoT where there is exponential growth
    in the number of devices connected to each other, through the advancement of
    the IoT network and M2M connectivity. A global IoT eco-system is growing
    quickly that will soon enable more efficient and cost effective M2M
    communication. This investment in Thinxtra provides Rakon an excellent
    opportunity to leverage future IoT opportunities - both through the
    investment in Thinxtra itself and the business opportunities that Rakon
    expects it to bring with Rakon's current technology base and ability to
    develop new products for the IoT market.
    
    Brent Robinson
    Chief Executive Officer
    
    -ends-
    
    Media Enquiries:
    Louise Howe (Media Liaison)
    021 206 0985
    www.rakon.com
    
    About Rakon
    Rakon is a global high technology company and a world leader in its field.
    The company designs and manufactures advanced frequency control and timing
    solutions for telecommunications, global positioning and space and defence
    applications. Rakon products are found at the forefront of communications
    where speed and reliability are paramount. The company's products create
    extremely accurate electric signals which are used to generate radio waves
    and synchronise time in the most demanding communication applications. Rakon
    has five manufacturing plants including two joint venture plants and has five
    research and development centres. Customer support centres are located in ten
    offices worldwide. Rakon is a public company listed on the New Zealand stock
    exchange, NZSX, ticker code RAK.
    
    About Thinxtra
    Thinxtra is a newly formed Internet of Things (IoT) company. Thinxtra will
    empower Australia and New Zealand's Internet of Things with world-leading IoT
    solutions & services, bringing a full eco-system of IoT solutions & suppliers
    to enable the non-connected to connect, to increase productivity, accelerate
    decision making, improve quality of service or simply solve problems in an
    economic & connected manner.
    End CA:00275349 For:RAK    Type:ASSET      Time:2015-12-18 08:30:26
    				
 
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