2 March 2016: Rakon Limited (“Rakon” or “the Company”) today announces the completion of further equity investment in Australian company Thinxtra Pty Limited (“Thinxtra”). The Company is today investing AUD 747,701, increasing its shareholding in Thinxtra to 18.1%.
Thinxtra is an Internet of Things (IoT) business that plans to launch operations in Australia and New Zealand in the second quarter of 2016. Thinxtra’s focus is on bringing a network, products, services and solutions to customers having machine-to-machine (M2M) communication needs, or themselves providing M2M products and solutions to their own customer base.
Rakon sees opportunities ahead with the IoT where there is exponential growth in the number of devices connected to each other, through the advancement of the IoT network and M2M connectivity. A global IoT eco-system is growing quickly that will soon enable more efficient and cost effective M2M communication. This investment in Thinxtra provides Rakon an excellent opportunity to leverage future IoT opportunities – both through the investment in Thinxtra itself and the business opportunities that Rakon expects it to bring with Rakon’s current technology base and ability to develop new products for the IoT market.
The Company expects to be able to provide a further update of our plans for the IoT in April.
Chief Executive Officer
Louise Howe (Media Liaison)
021 206 0985
Rakon is a global high technology company and a world leader in its field. The company designs and manufactures advanced frequency control and timing solutionsfor telecommunications, global positioning and space and defence applications.Rakon products are found at the forefront of communications where speed and reliability are paramount. The company’s products create extremely accurate electric signals which are used to generate radio waves and synchronise time in the most demanding communication applications. Rakon has five manufacturing plants including two joint venture plants and has five research and development centres. Customer support centres are located in ten offices worldwide.
Rakon is proud of its New Zealand heritage; it was founded in Auckland in 1967. It is a public company listed on the New Zealand stock exchange, NZSX, ticker code RAK.
Thinxtra is a newly formed Internet of Things (IoT) company. Thinxtra will empower Australia and New Zealand’s Internet of Things with world-leading IoT solutions & services, bringing a full eco-system of IoT solutions & suppliers to enable the non-connected to connect, to increase productivity, accelerate decision making, improve quality of service or simply solve problems in an economic & connected manner.