- 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.