SYDNEY: Australian semiconductor company 4DS Memory Ltd. announced Monday it has entered into a binding agreement to acquire Jenesys Pty Ltd, a software firm specializing in autonomous systems coordination, as part of a strategic shift toward integrated hardware-software platforms for artificial intelligence applications.
The transaction, expected to complete in October 2026, combines 4DS’s proprietary PCMO-based resistive memory technology with Jenesys’s Edge-AI software, targeting computing-in-memory and neuromorphic computing markets .
As part of the deal, Jenesys shareholder Jaspal Sarai will join 4DS’s board as managing director and chief executive officer upon completion.
4DS Executive Chairman David McAuliffe said the acquisition followed months of reviewing technologies that could complement the company’s existing Interface Switching ReRAM.
“The Board identified the Jenesys technology as having the capability to achieve this goal,” McAuliffe said. “In doing so and ensuring efficient execution on a development plan, the Board is of the opinion that this will restore shareholder value and confidence in the short-term, with potentially significant shareholder value into the future.”
Transaction Details
Under the agreement, 4DS will acquire 100% of Jenesys’s issued shares. The consideration includes a $150,000 non-refundable deposit already paid, $5 million worth of 4DS shares issued at $0.01 per share on completion, and six performance rights tied to technology and revenue milestones .
Fifty percent of the upfront consideration shares will be held in voluntary escrow for six months, with the remaining 50% escrowed for 12 months.
The transaction is subject to conditions including completion of due diligence, shareholder approval, successful capital raising, and regulatory consents .
Capital Raising
In connection with the acquisition, 4DS plans to raise up to $5 million through a non-renounceable rights issue and a placement to professional and sophisticated investors .
The rights issue will offer eligible shareholders one new share for every seven held at $0.01 per share, aiming to raise approximately $3 million. A separate placement has received firm commitments for $2 million at the same price .
4DS has appointed JP Equity Holdings Pty Ltd as lead manager, with fees totaling 6% on placement funds from the manager’s clients, 2% on funds raised outside the manager, and 6% on any shortfall placement .
Strategic Rationale
The acquisition follows a strategic review initiated in September 2025, which resulted in discontinuing development of the 20nm node while maintaining focus on the validated 60nm PCMO ReRAM platform .
4DS said the 60nm cell, successfully manufactured as a megabit-scale memory cell array in August 2023, is well-suited for neuromorphic computing and computing-in-memory applications where analog behavior, endurance, retention, and energy efficiency are critical.
The Board determined that integrated hardware-software development is essential for these applications, as device performance depends on interaction between device physics and machine learning workloads.
“The hardware cannot be finalised in isolation,” the company stated in its announcement.
Jenesys, incorporated in November 2025, consolidated pre-existing software intellectual property developed over approximately three years with aggregate expenditure of about $3 million . The company’s core product, the Distributed Autonomy Stack, is a software layer designed to coordinate fleets of mixed unmanned vehicles without a central command node, intended for environments where GPS and communications may be compromised.
Use of Funds
Combined existing cash of approximately $6.98 million (as of June 30, 2026) and capital raising proceeds totaling $11.98 million will be allocated over 24 months .
Research and product development, including 4DS ReRAM development, hardware-software integration, and Jenesys platform enhancement, will account for approximately 58% of funds. Business development costs, including staff salaries, customer engagement, demonstration programs, trade show attendance, and intellectual property protection, are budgeted at $3 million .
Market Context
The integration of Jenesys’s autonomous coordination software with 4DS’s non-volatile memory technology follows the model of major chip manufacturers like Qualcomm and NVIDIA, which bundle software frameworks and development tools with their silicon to accelerate adoption by original equipment manufacturers across markets including electric vehicles, robotics, drones, and edge-AI systems .
4DS recently completed business development engagements in India, including meetings with the India Semiconductor Mission, senior government officials, the Semi-Conductor Laboratory, and major research institutions including IIT Delhi, IIT Bombay, and the Indian Institute of Science . The company also intends to discuss renewal of its existing Joint Development Agreement with HGST, a Western Digital subsidiary .
Indicative Timetable
4DS expects to dispatch its notice of meeting and launch the entitlement issue on Sept. 2, 2026. The entitlement issue closes Sept. 28, with a shareholder meeting scheduled for Oct. 2. Completion of the Jenesys transaction is targeted for Oct. 5, 2026 .
The company advises that following consultation with ASX, its securities will be reinstated to quotation and it will not be required to re-comply with Chapters 1 and 2 of the Listing Rules .
4DS Memory, established in 2007 and with facilities in Silicon Valley, holds a patent portfolio comprising 34 U.S. patents and is the first company to develop PCMO ReRAM on an advanced CMOS processing node .
