By Nextwave | 19th September 2015
19 September 2015 | Kuala Lumpur, Malaysia
The founders of Nextwave Technology, a Malaysian-based tech startup, have announced the acquisition of KiddyTrack Sdn Bhd, a company that manufactures child safety tracking device, at an undisclosed fee. The deal comes after months of principled negotiation from both sides which includes the inheritance of all intellectual knowhow and a closet of pending patents belonging to KiddyTrack.
“This is a truly remarkable milestone for both KiddyTrack and Nextwave, with specializations in hardware and software respectively, to have come together in bringing technology for good. The deal is handled very professionally from the start with absolute sincerity and maturity demonstrated from both sides toward closing this transaction”, said Nextwave CEO Yen Pei Tay.
This acquisition catapults Nextwave into the wearable computing market, with its flagship wearable product, Shout, expected to ship out in South-East Asia region by end of this year. Shout is a Fitbit-like candy-sized wearable tracker for kids designed to alleviate child abduction. The wearable device is extremely light-weight with ultra low radiation which can be safely worn by kids all day long. It has social network integration which allows parents and guardians to track their kids on smartphones and shout-out for help to people nearby in the event of missing their child. Coupling with advanced location tracking technology and Big Data analytics, it can predict the location of the bearer even without GPS signal.
“Although the wearable market today is heavily crowded, we wish to renew and extend KiddyTrack’s commitment in solving social problems, focusing on child safety. The recent earthquake in Mount Kinabalu, which claimed 18 precious lives including some primary school children from Singapore, has really struck us to rethink the value of deploying such wearable tracker for safety reasons. It would have at least helped to pinpoint the last location of the climbers in the search and rescue effort if we could put these trackers into service”, said Tay.
Furthermore, the wearable could benefit Alzheimer’s patients who are suffering from dementia, allowing their families to instantly track them on their smartphones. Unlike any other conventional GPS tracker, Shout is designed to operate in all-weather conditions, with an adjustable colorful waterproof strap.
Nextwave Technology Sdn Bhd
Phone: +603 8073 7271 | E-mail: email@example.com