Jemsoft Sold and Sued

In Australia, artificial intelligence specialist Jemsoft is being sued by former JV partner Karen Nelson-Feld, who reportedly received no warning of its recent acquisition by Internet of Things firm Xped.

Jemsoft was founded in 2013 by Jordan Green and Emily Rich, and last year partnered with digital media authority Karen Nelson-Field to set up media measurement tech business MIC. The latter offers a solution combining Jemsoft's existing computer vision technology (Monocular API) with Nelson-Field's knowledge of the digital media ecosystem and buyer behaviour; and offers solutions to address viewability issues, ad avoidance, audience measurement and contextual programmatic targeting in real time.

The recent sale to Xped, for $200k in cash and $700k in shares, means the latter now owns 100% of Jemsoft, and a 51% share in MIC - yet reports in the Adelaide press suggest that Nelson-Feld received no warning of the sale. Nelson-Feld is applying in Federal Court to close down the business, claiming nearly $68k owed to her for consultancy work undertaken last year. MIC and its directors will reportedly 'make a statement in due course'.

Web sites: www.xped.com and www.jemsoft.co .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.