icetana Limited is pleased to advise that it has entered into a binding placement agreement for an investment from Macnica Inc.
The US$500k (A$771k) investment for new fully paid ordinary shares follows a two and a half year working relationship where Macnica’s global sales team has won major customers with icetana including one of the biggest estate companies in Japan. Together with this investment, Macnica will receive enhanced distribution rights for Japan, Brazil and Europe. Funds will be used to accelerate icetana’s commercialisation activities and increasing global sales channels utilising Macnica’s very strong global distribution platform for the Company’s motion intelligence software.
Chief Executive Officer Matt Macfarlane commented: “We have enjoyed an excellent relationship with the team from Macnica who have been deeply engaged in our product journey as well as actively positioning us in the crucial Japanese surveillance market.
Keisuke Ito, President of Clavis company and Executive Officer at Macnica Holdings Inc added: “Macnica is a highly technical organisation and we are impressed with the icetana solution to real-time video surveillance challenges.We have worked over the past two years to develop opportunities in the Japanese market and observed strong engagement from a substantial number of large local operations. We see global potential for the product and this investment underscores our belief in the team to execute on their growth ambitions.”
Concurrent with the new investment, Macnica will be granted a period of distribution exclusivity over Japan and Brazil for the icetana product. The exclusivity will be renewed annually on the basis of agreed performance hurdles. icetana believes this is a very strong and positive addition to our share register. icetana’s global plans have been further strengthened with this expanded relationship and future support for growth is more accessible with long-term corporately aligned shareholders such as Macnica.
Since it was established in 1972, Macnica has provided leading-edge semiconductors, electronic devices, networks and cyber security products with high value-added technology. Macnica has been actively developing new businesses in the fields of AI, IoT, automated driving and robotics, based on its strength in global sourcing and strategic planning for world-leading technologies. With its slogan "Co. Tomorrowing", Macnica connects leading-edge technologies with ‘Macnica’ intelligence to provide unique services and solutions, creating social value and contributing to the betterment of future societies. Headquartered in Yokohama, Macnica’s global business spans 24countries/regions and 80 locations worldwide.