News and Announcements
Technology Accelerator Yonder & Beyond Makes Strategic Investment in Connexion
- Published March 25, 2015 3:25PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
25 March 2015, Melbourne, Australia: Connexion Media Limited (ASX:CXZ), an innovator in the connected car market, has welcomed a new strategic investor by newly ASX-listed technology accelerator Yonder & Beyond (ASX:YNB).
Yonder & Beyond has invested $300,000 in Connexion with the purchase of 1.5 million shares at $0.20 per share. The purchase was made from existing shareholders including Mi Media Holdings, therefore avoiding any dilution.
Using its array of tech assets and expertise Yonder & Beyond will assist Connexion with sales and marketing opportunities across the Asia Pacific region.
“We see huge potential in the connected car market and Connexion is at the forefront of opportunities in the sector. We have had Connexion on our radar for some time,” said Yonder & Beyond CEO and managing director Mr Shashi Fernando.
Connexion has two core products with the miRoamer radio and music service app as well as cloud-based connected vehicle management service Flex.
“We feel this is a mutually beneficial deal for Connexion and Yonder,” said Connexion Media CEO and managing director George Parthimos.
“Mr Fernando and his team have proven themselves in the delivery of world- class technologies with a particular focus on mobile solutions. We expect this strategic investment will open doors to more opportunities for Connexion and its products.”
CONTACT
| George Parthimos
CEO & Managing Director Connexion Media Limited |
Rudi Michelson
Monsoon Communications |
About Connexion Media
Connexion Media Ltd (ASX:CXZ) is a technology company specialising in developing and commercialising software apps and services for the web connected car, mobile device and connected consumer electronics markets. It is based in Melbourne Australia, with a salesoffice in Cambridge UK.
About miRoamer
miRoamer is a category-leading digital media platform for vastly improved internet radio and music entertainment. It can be installed in a variety of consumer electronics including car radios, smart phones, gaming consoles, televisions and stereo systems. Users get media content from a common platform using as many electronic devices as they wish. miRoamer enables access to favourite content providers and stations as well as customising the access. miRoamer is licensed by some of the world’s big and prestigious automotive and consumer electronics companies. www.miroamer.com
About Flex
Flex is a cloud based, integrated vehicle management system that gives you control over your entire fleet of cars, trucks and other vehicles from a central point. It simultaneously tracks – in real time – all key performance indicators of your vehicles such as geo-location, fuel, distance, engine, and speed. It also helps improve productivity, driver behavior, and increase awareness of vehicle or fleet performance. www.flexvs.com
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