ASX Shell Set to Provide Affordable Smart Tech to the Masses
FINALISED: 07-12-15 PUBLISHED: 07-12-15
ASX Shell Set to Provide Affordable Smart Tech to the Masses
What happens when you get a company that can create useful gadgets with the pace of James Bond’s tech-guy Q, and put them out at the frequency and cost of global fashion giant Zara?
You get a company that is primed to make a big splash in the Internet of Things space – a company that is selling its products in mainstream shops across Australia right now. This company is set to list on the ASX via the reverse takeover of an ASX listed shell in the coming weeks.
And it is going about its plans in a smart way – a way that even Bond would be proud of.
This company is taking existing innovation, developing it, tinkering with it and then adding more functionality to make it useful for the average Joe. The company has a number of bases covered in the Internet of Things through its smart watches, drones and coming home automation products as they look to create a complete IoT ecosystem.
It is already selling a smart watch that retails for just $99 – a fraction of the price of the big brands like Apple and Samsung.
ASX Shell Set to Provide Affordable Smart Tech to the Masses
In fact it hopes to achieve what Apple and Samsung have done with their watches, but on a cheaper, more affordable scale for consumers.
This is all about high volume, lower margin selling – and it seems to be working.
The company is already generating revenue – after stitching up deals with big chains such as Coles and Woolworths, the company’s first release of smart watches sold out in just two days.
At the same time, this is a speculative investment – the ASX shell still needs to finalise the acquisition. It is recommended investors seek professional advice and consider their personal circumstances before investing. Once the company lists on the ASX it will be positioned to expand further and achieve its IoT ambitions.
Helping this company to grow is one of Richard Branson’s former right hand men, who was at the helm of Virgin Entertainment for 12 years. This ex Virgin exec was also an executive at Sony and helped launch the Walkman into the UK – yes, that cutting edge piece of ‘wearable’ technology from the ’80s…
ASX Shell Set to Provide Affordable Smart Tech to the Masses
The IoT Group was formed through the merger of three tech businesses, OK Watch, which focuses on affordable, wearable devices, Roam (for the smart home) and InnovativePTV, which provides on-demand libraries, live streaming services, video description and more. The IoT Group is set to list on the ASX via a reverse takeover of Ardent Resources Ltd (ASX:AWO)
AWO Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
