News

Melbourne (Feb 6, 2017) AEST (ABN Newswire) – Xped Limited (ASX:XPE) (“Xped” or “the Company”) is pleased to announce they have signed a Memorandum of Understanding (“MoU”) with Solekai Systems (“Solekai”) that will result in both companies working together and develop a binding agreement to license several Xped technologies and collaboratively market and develop solutions for Solekai customer base.

Highlights

– MOU signed with Solekai Systems for licensing of Xped Technologies, and a Collaborative Marketing and Reseller Agreement

– Xped standard licensing costs sheet of USD$1.00 per Gateway, USD$0.15 per Device and USD$2.00 per Platform licensed applies or Revenue Share for clients introduced under proposed terms

– Proposed agreement allows Solekai to distribute Xped software products

– Xped and Solekai to collaborate on joint solutions under proposal

– Solekai Systems, based in the USA, are leading software design and integration company.

– Solekai Systems specialise in Digital Media, Smart Grid, Connected Health and Internet of Things solutions

– Solekai have delivered solutions for large companies including Tivo, and Sensus (a Xylem company)

When a binding agreement is reached, Solekai will incorporate Xped’s Smart Home, Smart Health, and Smart Gateway solutions into their existing customer’s platforms such as media players, set-top boxes, and energy management systems. Xped and Solekai will integrate each other’s platforms, extending the channel penetration for each company. Xped’s technologies to be licensed will include:

– Xped App Framework

– Xped Infrastructure Platform (“XIP”)

– Auto Discovery Remote Control (“ADRC”) Proxy

– ADRC Daemon

– RML Translation Library

– One Tap Provisioning of Gateway and Smart Devices

Xped will provide Solekai branded versions of the Xped App customised for a Virtual Gateway solution, a Smart Home solution, and a Smart Health solution.

Under the proposed terms, when a binding agreement is reached, the standard Xped licensing cost sheet will apply:

– Smart Things: USD$0.15 per Thing

– Smart Gateways: USD$1.00 per Gateway

– Smart Platform: USD$2.00 per Platform

In addition, ongoing Maintenance Fees are to be negotiated as part of the final binding agreement.

Now that a Memorandum of Understanding has been signed Xped and Solekai will work together to progress to a binding agreement. Xped hopes to reach a binding agreement in Q1 2017. An update will be made to the market as soon as progress has been made.

Xped’s Managing Director Martin Despain commented: “Solekai has a high-quality customer base and strong offerings in growth markets including Smart Grid and Metering, Digital Media Distribution, and Connected Health solutions, providing Xped an opportunity to license our technologies that will enhance their solutions. We will now work together to formalise an agreement”.

Solekai Executive Vice President Michael Daulerio commented: “Solekai is really excited about this opportunity to collaborate with Xped. Xped’s solution is elegantly simple, and we believe that the technology they are building will greatly enhance our existing and future customers’ product offerings”.

ABOUT SOLEKAI

Solekai is a leading software design services and integration company based in San Diego, CA. Founded in 2002, Solekai rapidly enables its clients to increase revenue, reduce cost, and improve consumer satisfaction by accelerating the time to market of mission-critical software. Solekai provides valuable domain expertise in the Digital Media, Smart Grid and Internet of Things vertical markets. Once you work with Solekai, you will be a customer for life. Learn more about our technology experts at www.solekai.com.

About XPED Ltd

XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. It’s as simple as two people shaking hands. By enabling the Internet of Things, Xped’s ADRC platform will bring benefit to Manufacturers, Retailers, Service Providers and Consumers.
At Xped, we’re Making Technology Easy Again.