ASX-listed Xped has licensed its proprietary internet of things technology to Shanghai-based Telink Semiconductor, a maker of low power wireless chips.
A short time ago, Xped’s share price was more than 20% higher at 8.7 cents.
In April, Xped raised $8 million by issuing 320 million shares at 2.5 cents each via a backdoor listing on the ASX.
Xped’s technology allows anyone with a smartphone to connect, monitor and control devices and appliances found in the everyday environment.
Under the latest deal, Xped will get a 17.95% fee for each Telink chipset sold containing its technology.
Telink is on track to supply more than 100 million chipsets this calendar year with 80% of those sales related to internet of things.
“The company (Xped) is very excited to have licensed its IP to Telink who are at the forefront of supplying quality and low cost IoT (internet of things) chipsets to top end customers around the world,” says Athan Lekkas, chairman and CEO of Xped.