Miami firm buys Jamaican drone, AI business in US$225,000 deal that could rise 14-fold
AIBotics Inc, a Miami-based technology company, has acquired the drone, mapping and artificial intelligence (AI) business of Jamaica’s PlayJamaica Ltd in a deal initially worth US$225,000 but could rise to US$3.2 million if performance targets are met, according to US securities filings. The deal shows how two lesser-known entities are valuing AI drone technology in the local space. AIBotics Inc, a Miami-based technology company, has acquired the drone, mapping and artificial intelligence (AI) business of Jamaica's PlayJamaica Ltd in a deal initially worth US$225,000, which could rise to US$3.2 million if it meets performance targets. The transaction gives AIBotics control of the NovaCore Labs business, which provides mapping, geospatial technology, automation, AI and drone services. The acquisition also includes 10 service robots, six commercial drones and three field generators. The purchase price includes Series B preferred shares issued at closing and up to US $3 million in additional preferred shares tied to revenue milestones. If PlayJamasica fails to meet these targets within 30 days of written notice, it may seek repurchase.
Được phát hành : 4 giờ trước qua trong Business Tech
AIBotics Inc, a Miami-based technology company, has acquired the drone, mapping and artificial intelligence (AI) business of Jamaica’s PlayJamaica Ltd in a deal initially worth US$225,000 but could ri... [6394 symbols]
Chủ đề: AI, Jamaican
