AB Embedded Systems Completes Integration with Astra Smart Systems

Carl Data Solutions (CSE:CRL) announced that assets of AB Embedded Systems are fully integrated with Astra Smart Systems.

The company engaged in Industrial Internet of Things (IIoT) said that through the combined talent pool of AB Embedded Systems and Astra Smart Systems, machine learning/AI laboratory,  several projects are now heading towards completion.

As quoted in the press release:

Products such as a low-cost, IoT devices for smart city infrastructure, and Astra AirSafe, a real-time environmental sensor used for air quality and hazard detection, will be available in the new year.

“Not only are we currently seeing the benefits from our Astra acquisition, we are also well positioned to keep growing steadily throughout this year to reach our financial targets,” said Greg Johnston, Carl Data CEO and President. “We have nearly a dozen hardware and software pilots running with smart city and industrial partners that will be transitioning to full deployments early in the new year.”

The hardware and firmware assets of AB Embedded are now fully integrated with Astra’s sensor development team and facilities, which will allow for the combined expertise necessary for the continued creation of low-cost, low-power devices needed to disrupt the environmental monitoring industry.

“The hardware and firmware assets from AB Embedded, combined with Astra’s sensor expertise, manufacturing capacity and unique AI development laboratory means big steps forward for our product lines,”said Pilar Portela, Astra CEO. “We are very excited to bring affordable, easily integrated industrial IoT devices to market in the near future.”

Further to its asset purchase agreement (the “Asset Purchase Agreement“) dated November 30, 2017 with AB Embedded, the Company has issued 400,000 common shares of the Company (each, a “Share“) to AB Embedded (the “Issuance“) at a deemed price of $0.32 per Share. The Issuance marks the second and final issuance of its Shares to AB Embedded as consideration for certain intellectual property assets, tangible assets, and intangible assets purchased by the Company pursuant to the Asset Purchase Agreement. In total, the Company has issued an aggregate of 800,000 Shares to AB Embedded in connection with the transaction.

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