The ASUS MeMO Pad Smart 10 was introduced a couple of months ago with Android 4.1 Jelly Bean and it looks like the U.S. variant is already receiving the Android 4.2 Jelly Bean software update. The update is being offered (OTA) over-the-air and is 510.93MB in size.
You can be downloaded from the Asus website and you will be running Android 4.2.1 with software version 10.6.1.15 once you complete.
Asus hasn't revealed a change-log for this update, but you can expect the enhancements from Android 4.2, including the multi-user login support and performance enhancements.
If you own a MeMO Pad Smart 10 and have received the update, be sure to share your post update experiences with us in the comments.
source - Asus | Android Police