Sarine Technologies Acquires Majority Stake in Kitov.ai for $4.1M
Sarine Technologies is set to acquire a significant stake in Kitov.ai, a move that will see it diversify into new areas and strengthen its position in quality assurance and control solutions. The deal, worth $4.1 million initially, could potentially see Sarine's ownership in Kitov.ai rise to over 50%.
Kitov.ai, known for its AI-powered 3D visual inspection system, is a promising addition to Sarine's portfolio. The company's technology can examine multiple parts simultaneously, making it ideal for small-batch production. This capability aligns with Sarine's aim to expand its focus to other industries. The acquisition will also allow Sarine to evolve into a leading provider of QA/QC solutions.
Kitov.ai is exploring partnerships with other leading companies in the field, further boosting its potential. To facilitate this acquisition, Sarine is providing Kitov.ai with a convertible $2.6 million loan. This loan could increase Sarine's ownership to 51%, giving it a majority stake in the company.
The acquisition of Kitov.ai by Sarine Technologies is a strategic move that will allow Sarine to diversify its offerings and strengthen its position in the QA/QC market. With Kitov.ai's innovative technology and potential for growth, this deal promises to be beneficial for both companies.
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