Home Deals IoT firm Xped acquires AI company Jemsoft

IoT firm Xped acquires AI company Jemsoft

Adelaide-based ASX-listed Internet of Things platform company Xped has acquired the Jemsoft Group of companies whose main entity is focused on artificial intelligence and computer vision.

Xped paid $200,000 in cash and 50 million of its shares as consideration for the purchase.

A statement said the main asset in the Jemsoft Group had a deep technology stack and had proven its ability in the market to deliver on large scale projects.

The Jemsoft Group also includes a partially-owned subsidiary Media Intelligence that makes use of such software to provide real-time and after-the-fact insights and measurements for brands and media owners alike.

MIC has a cornerstone research contract with Think TV Australia, which provides $500,000 per annum in licensing fees and is self-funded. Other high-profile projects are in development and will be disclosed shortly.

Xped is creating a new mobile-based IoT device control platform, something like a control panel for IoT devices. This would allow any consumer to connect, monitor and control devices and appliances found in our everyday environment.

The company's managing director, Martin Despain, was formerly Intel’s US-based general manager of its smart home division.

Xped has a deal with Shenzhen-based electronics manufacturer Lenze Technology that produces white-label products for brands around the world, including Disney and the Chinese online video platform iQiYi. Its software will be integrated in more than 200 million devices.

Another deal with San Diego’s Solekai Systems will see Xped's technology integrated into that company's existing customer platforms such as media players, set-top boxes, and energy management systems.

Xped will obtain a 51% interest in Media Intelligence apart from ownership of Jemsoft, its Monocular API, and all of Jemsoft’s IP and trade secrets.

The statement said Jemsoft had delivered several AI-based projects in a number of industries, including hardware solutions, security, computer vision and machine learning solutions in many sectors, including the media sector.

Its clients include global conglomerates, SMEs, government organisations and various start-ups.

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Sam Varghese

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A professional journalist with decades of experience, Sam for nine years used DOS and then Windows, which led him to start experimenting with GNU/Linux in 1998. Since then he has written widely about the use of both free and open source software, and the people behind the code. His personal blog is titled Irregular Expression.