Potash Minerals (ASX:POK) has exited an ASX trading halt this...

Potash Minerals (ASX:POK) has exited an ASX trading halt this morning following the execution of an exclusive option agreement to acquire 100% of US-based Internet of Things (IoT) data platform, Buddy Platform, Inc.

The proposed ASX listing will provide a platform for Buddy to grow a global business, take a leadership position in the management and aggregation of IoT data, while expanding the company’s commercial footprint in Australia.

Buddy takes the data generated by devices connected to the internet and secures it, manages it, then makes it useful.

To highlight the massive growth, Cisco estimates by 2020 that there’ll be over 50 billion devices connected to the internet.

Buddy offers functionality as software as a service – sold to organizations that manufacture or manage devices which generate data, but which are not equipped to manage, secure or access this volume of data.

Buddy operates a global technology platform to meet customers’ IoT data sovereignty needs with infrastructure located in the US, EU, China and soon, Australia.

Early investors include US west coast VCs, Microsoft Corporation and AF Square, the venture division of prominent Los Angeles entertainment and artist management company, Atom Factory.


Who will use Buddy?

Buddy’s technology is of value to device and sensor manufacturers, automotive OEMs, airlines, connected home and smart metering companies, telecommunications companies & mobile carriers, mobile application developers, amongst others.