International. Mobotix announced an official agreement for the acquisition of Vaxtor Group (Vaxtor), a company specializing in video analysis based on Artificial Intelligence (AI), Optical Character Recognition (OCR) technologies and Deep Learning.
Vaxtor has a broad customer base globally, specifically in 50 countries, and partners with most relevant industry players, providing for various sectors both camera agnostic and embedded video analysis.
Its analysis technology, used in combination with Mobotix cameras, allows the automated capture of, among others, letters, numbers or other data readable by machines and people, and allows to record and process such information in a cost-effective way at high speed and activate any related process. This facilitates and accelerates Mobotix's vertical market strategy, as the use of these technologies can be applied, for example, in Public Administration, Retail or transport, but also, to name a few examples, in the tracking of containers, vehicles and aircraft in the areas of logistics and manufacturing. Market analysis estimates that the global MARKET for ALPR solutions alone will increase from $2.3 billion to $3.8 billion by 2025, assuming a compound annual growth rate (CAGR) of 10%.
In addition, Vaxtor's products are tailor-made for the Mobotix 7 camera platform and have the competitive advantage that their analytics applications can run decentralized and embedded in the camera, eliminating the need for expensive peripheral hardware. They are also fully integrated into the Mobotix HUB video management software.
Taking into account all these factors, the acquisition offers extensive commercial and development possibilities, as well as synergy effects. In particular, the opportunity for close development collaboration between Vaxtor and Mobotix's newly created Development Office in Madrid, all of which will allow both companies to address both growing emerging markets and future requirements more effectively.
"This acquisition is an important step in our strategy to strengthen our AI and Deep Learning capabilities and, while Vaxtor will continue to operate as an independent company, it is based on compelling business and development synergies and clear strategic benefits for both parties," said Thormas Lausten, CEO of Mobotix.
Juan Vercher, CEO and founder of Vaxtor, said: "I am delighted with the possibilities this acquisition brings to Vaxtor. Not only can we continue to operate as an independent company and grow our existing business relationships, but the opportunity to have closer strategic collaboration, both technically and commercially, with a company of Mobotix's stature is exactly the catalyst needed to drive our ambitious growth strategy."
Both companies have agreed not to disclose any financial details. Corporate bodies have approved the acquisition. Completion is still subject to approval by the relevant authorities. The acquisition is expected to close in the first quarter of 2022.
