Xped - Further action, page-564

ASX-listed Internet of Things start-up Xped will see its device management software integrated into over 200 million devices after it inked a deal with Chinese white-label electronics manufacturer Lenze Technology.

The Shenzen-based manufacturer makes products for the likes of Disney and Chinese online video platform iQiYi, and the deal means Xped’s software will be in everyone of Lenze’s devices for estimated 200 million devices in 2017.

Xped chairman and CEO Athan Lekkas said the deal was Xped’s first major agreement with a manufacturer, and would be a major revenue generator given it’ll generate 15 cents for every device linked to Xped’s software.

He said his software serves as a control panel for Internet of Things devices, allowing a smartphone to remotely control and activate the devices.

“This deal is a watershed moment for Xped, not only will it deliver revenue for the company, but it hopefully open the door to future deals with other device makers down the line,” he said.

“After years of hype, device makers are now realising the potential of this trend. As a result, expect to see significant deals for both Xped and other companies this year as the broader technology sector wakes up to the potential of IoT.”

Mr Lekkas said his firm’s key advantage was to simplify the consumer tech space, given it was currently mired in complexity.

“We believe the rollout of our platform will give this sector the nudge it needs to make IoT-based technology as ubiquitous as smartphones.”