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ASX-listed smart home technology provider, Quantify Technology, has completed an exciting merger with like-minded GSM Innovations while successfully raising $4 million. Adelaide-based GSM-I, a subsidiary of unlisted electrical specialists Gerard Private Holdings, manufactures the segment-leading Zimi integrated home technology products. The deal also sees Gerard Private take a 40 per cent major shareholder position in Quantify.

Gerard Private Holdings' wholly owned subsidiary Zimi Powermesh, which is on the cusp of merging with smart home technology group, Quantify Technology, has just received an order for a whopping 10,000 units of its internet-connected devices. Once the acquisition of Adelaide-based Zimi has been ratified by Quantify shareholders at its annual general meeting next week, the merged entity plans to undertake a $4 million capital raise.

ASX-listed Quantify Technology has entered into an equity partnership arrangement with 100-year-old unlisted Gerard Private Holdings, owner of GSM Innovations, or “GSM-I” which produces a range of internet-connected household devices as Quantify seeks to shore up a dominant position in the smart home technology sector.

ASX-listed smart home product supplier, Quantify Technologies, says it is well placed to face the Coronavirus-inspired market headwinds after raising A$1.75m back in February and a number of previously placed orders are now starting to be delivered. The Perth-based company has also managed to slash $1m off its annual cash burn as it focuses on its manufacturing and distribution deals in the East coast.