Family Zone bolsters Asian expansion with Hong Kong edutech deal
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Cyber security play Family Zone will expand its educational offering after a new deal with a Hong Kong-based edu-tech.
Family Zone (ASX:FZO) will collaborate with 180C – maker of device management platform eSchoolPad – to bolster its offerings first in Hong Kong, with a view to move into mainland China.
“Our partnership with 180C brings us a swift route to a new and much sought-after feature set in education, and a streamlined presence into the material and strategically important Hong Kong education market,” managing director Tim Levy said.
Right now Family Zone’s software can scan app installs and restrict access to device features. But the 190C deal gives them a deeper range of filtering capabilities.
Under a licensing agreement, Family Zone will re-sell the eSchoolPad technology. A second collaboration agreement encourages the two to work together to promote both products hand-in-hand across the globe.
The news follows a challenging period for Family Zone after an Indian foray fell through when local partner Aircel filed for insolvency last month.
The stock fell 10 per cent at the time. Family Zone says entry into India is still on the cards.
News of today’s deal did little to excite the market on Tuesday. The shares were trading down 2 per cent in Tuesday morning trade at 55c.
An integrated product is expected in market by September — initially in Australia, New Zealand and Hong Kong.
FZO said it was on the doorstep of mainland China and “an exciting conduit for Taipei and South-East Asia”.
“We believe our eSchoolPad product has global potential and we see Family Zone as the ideal partner to help us achieve our ambitions,” 180C MD Freddy Tsang said.
“We also look forward to working with Family Zone in our home market to bring world’s best practice cyber-safety programs to the Hong Kong education sector.”