RAYA GROUP LTD 
Highlights
- Memorandum of Understanding signed with leading chipset manufacturer to access XPED patented ADRC technology
- Primary objective is to port the Xped ADRC firmware (Device Proxy and Remote Network Processor) on to the chipset manufacturer's library environment
- A wide range of chipset manufacturer's ARM based microcontrollers to be enabled and become compatible with ADRC firmware
- Focus will be to expand and enhance Xped's current and future needs for wireless connectivity products and solutions such as NFC, SubGhz radio transceivers, security engine and sensors
- Strong demand for prospectus received, firm offers now total in excess of $8,000,000 being the maximum amount under the prospectus offer
The NASDAQ listed chipset company identified Xped's ADRC technology in a Singapore technology event more than six months ago and was excited with the capabilities the technology offered. This began the process of collaboration providing access to their latest technology including advanced silicon and technical expertise. With both companies having established operations in Singapore, this MOU now formalises a strategic pathway forward.
The MOU allows the parties to explore opportunities with the key elements below:
- The parties intend to explore their respective products and software offerings for the purposes of future cooperation.
- Specifically, the parties intend to collaborate on a project to port Xped's ADRC firmware (Device Proxy and Remote Network Processor) to the chipset manufacturer's library environment. This will enable ADRC firmware to be compatible with a wide range of their ARM based microcontrollers.
- Review to expand and enhance Xped's current and future needs in terms of wireless connectivity such as NFC and SubGhz radio transceivers and other features including security engine and sensors.
The NASDAQ listed chipset manufacturer has requested their identity remain suppressed until both parties reach further defined agreements following the intentions of the MOU.
The patented technology solution that Xped has developed, along with its capability to be commercialised in the near term, has garnered strong interest from a variety of chipset manufacturers.
Under the MOU, Xped will be given access to the manufacturer's latest technology including newly advanced silicon chipsets, internal resource expertise, innovative technical solutions, leading manufacturing facilities, and cutting edge technical expertise; enabling both companies to jointly assess and explore new opportunities in the Internet of Things sector.
"We are pleased to be working with such an innovative company." says Raya Group Chairman, Athan Lekkas. "The Internet of Things will make a significant difference to our lives and this co-operation with Xped will enable our respective companies to make that difference." He added.
Xped Chairman Chris Wood stated, "We are proud to be working with a world leader in this industry that shares Xped's innovative spirit on these opportunities. They have been very supportive of Xped and together we have been able to forge a strong collaboration over recent months, as our teams worked together to validate and realise the value of our combined strengths in IoT, Big Data and sensor systems. It is hoped that their global footprint will provide Xped with the opportunity to access new channels and revenue opportunities."
Xped is excited to have executed its first MOU with a leading NASDAQ listed chipset manufacturer seeking to utilise the patented ADRC technology in their product range.
Xped is now currently developing working prototypes and will seek to enter formal agreements with this chipset technology company post initial trials.
Corporate Update
The Company would like to advise that it has received firm bids heavily in excess of the $8,000,000 maximum raising under the Prospectus.
The Company has received notification from its Lead Manager "KTM Capital" that firm binding offer letters have been received for the maximum allocation of funds, in addition to forms and funds being received by the Company share registry from existing shareholders.
The offer closes on February 19, 2016.
About Raya Group Ltd:
Until recently, Raya Group Limited (ASX:RYG) was an exploration and development company which was focused on the exploration and development of geothermal assets in Australia and Indonesia. Raya announced to the market its intention to acquire Xped Holdings Limited and entered into a Head of Agreement with key shareholders of Xped to acquire all of the issued capital in Xped. Raya seeks to change its name to Xped Limited (ASX:XPE) following shareholder approval of the Xped transaction and associated resolutions at the upcoming General Meeting in February. Xped is an information technology company focused on the development of Auto Discovery Remote Control technology which allows for a common platform for devices to share a common language making Internet of Things Technology a reality.
Source:
Raya Group Ltd
Contact:
Company Secretary T 03 9642 0655 E info@rayagroup.com.au www.rayagroup.com.au
