Total
0
Shares
MRG to begin HMS drilling following $661,500 equity raise
  • Sensor solutions provider Sensera (SE1) has sold its subsidiary, Nanotron Technology, for US$8.7 million (around A$12 million) to leading indoor data company, Inpixon
  • Primarily, the deal will help clear the company of any debt
  • Sensera will now focus on its primary business, which includes MicroDevices sensor development and production
  • The business saw a 41 per cent increase in revenue for the 2020 financial year and the current financial year is expected to grow materially
  • On the market today, Sensera is up 11.3 per cent, trading for 5.9 cents per share

Internet of Things (IoT) sensor solutions provider Sensera (SE1) has sold its subsidiary, Nanotron Technology, for US$8.7 million (around A$12 million) to Inpixon.

Inpixon is a leading indoor data company which delivers indoor intelligence solutions.

This sale will allow Sensera to focus on its primary business, which includes MicroDevices sensor development and production — a device which uses microelectromechanical systems (MEMS) technology.

The deal will also remove debt that is owed to Pure Asset Management and Altor Capital, totalling US$5.1 million (around A$7 million). Additionally, US$1 million (around A$1.4 million) in promissory notes will be paid to clear the company of debt.

Sensera CEO, Ralph Schmitt, said there were a lot of capital and time requirements to expand its Nanotron business due to COVID-19.

"Inpixon has already made the investments necessary on the system
software side to accelerate this business shift to full customer solutions," he said.

"Through this transaction, we improve the balance sheet and provide Sensera with capital to properly invest in the fast-growing IoT MEMS Sensor business," he added.

MicroDevices

Sensera's MicroDevices business has remained fully operational during the COVID-19 pandemic.

In fact, Sensera reported a 41 per cent increase in revenue for the 2020 financial year and the current financial year is expected to grow materially.

During the pandemic, the company created a COVID-19 detection solution which helped bring in revenue for the business. For this solution, Sensera received over US$3 million (approximately A$4 million) in sensor orders.

"Several new unannounced customers are providing additional designs and development-based revenue that are expected to ramp into production in the second half of FY21," the company told the market.

On the market today, Sensera is up 11.3 per cent, trading for 5.9 cents per share at 12:41 pm AEDT.


Subscribe


SE1 by the numbers
More From The Market Herald
Ambertech’s (ASX:AMO) share price doubles amid strong profit guidance

" Ambertech’s (ASX:AMO) share price doubles amid strong profit guidance

Audiovisual tech provider Ambertech’s (AMO) share price has more than doubled after it posted stellar profit guidance for 2020’s second half.
Buddy Technologies (ASX:BUD) - CEO, David McLauchlan - The Market Herald

" Buddy Technologies (ASX:BUD) antibacterial smart light passes U.S. testing

Buddy Technologies (BUD) has passed its United States efficacy testing for its antibacterial smart light Lifx Clean.
Family Zone Cyber Safety (ASX:FZO) - Managing Director, Tim Levy - The Market Herald

" Family Zone (ASX:FZO) looks to raise $22M for business expansion

Family Zone (FZO) has received firm commitments for a $20 million placement.
Weebit Nano (ASX:WBT) - CEO, Coby Hanoch - The Market Herald

" Weebit Nano (ASX:WBT) soars again on solid quarterly update

Shares in Weebit Nano (WBT) are spiking this morning after investors took well to the company’s latest quarterly financial report.