Monday, 28 May 2018 21:41

Xped, Heuresy ink deal to build IoT security device Featured

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Australian-listed Internet of Things technology company Xped has secured a US$500,000 IoT deal to develop a new physical security token with UK company Heuresy Labs.

Xped (ASX: XPE) has announced it has executed a binding technology development agreement with Heuresy to develop the PST which provides authentication and encryption.

The company says the PST will be used to provide authentication of its gateways and encryption of data from the devices attached to them, allowing the company to serve significant new and expanded markets that require secure IoT solutions.

Xped says it is not planning to undertake a coin or token offering.

“With this contract and new security token, Xped can pursue opportunities in new and higher value markets such as governments and utilities,” said Xped chief technology officer and executive director Christopher Wood.

“Xped’s XIP ecosystem is a hardware-secured IoT platform that serves, residential, commercial and industrial customers.”

Wood said the new PST security would allow governments, utilities, retail and other industry customers who are waiting for secure IoT solutions “to start adopting and benefitting from these applications now because they will be able to use the PST with Xped gateways and devices to build highly secure IoT networks. For example, in an office building, the PST secured system could be used to provide secure access control via Xped enabled door locks.”

Both Heuresy and Xped will market and distribute the combined secure IoT solution suite, which they say will greatly expand the reach of the offerings.

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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