Xped adds AI to IoT with AU$900k Jemsoft acquisition ZDNet

Australian Securities Exchange-listed Internet of Things (IoT) company Xped has announced that it is purchasing fellow Adelaide-based artificial intelligence (AI) company Jemsoft for AU$200,000 in cash and 50 million Xped shares. The total value of the deal comes to AU$900,000, with Xped shares priced at 14 cents per share. In addition to acquiring all of Jemsoft's intellectual property -- including its computer vision machine-learning technology, Monocular API -- Xped will also gain ownership of 51 percent of Jemsoft's partially owned subsidiary Media Intelligence, which offers media measurement technologies and real-time research solutions. The acquisition will allow Xped -- which offers a platform that enables consumers of all technical capabilities to connect, monitor, and control everyday devices and appliances through their smartphones -- to provide an in-house AI solution to clients looking to enhance their IoT products using visual sensors. Monocular's account management and dashboard components, as well as its user-trainable functionality, will become "integral components" of Xped's smart home and other IoT offerings moving forward, the companies said.