Nextech (CSE: NTAR) (NEO: NTAR) (OTCQB: NEXCF) (FSE: N29), a diversified leading provider of augmented reality (“AR”) experience technologies and services, has closed the previously announced acquisition of Threedy.ai Inc. (“Threedy”). Based in Silicon Valley, California, Threedy is a 3D artificial intelligence (“AI”) modeling for e-commerce company. Upon closing of the acquisition, Nextech issued 3,877,551 common shares in the capital of the company at an agreed value of US$2.45 per share (CA$3.01 per share), for total share consideration of US$9.5 million. According to the update, the common shares will be subject to certain contractual restrictions on trading for a period of up to 23 months from the date of issuance. “I’m pleased to officially welcome Nima, Max and the Threedy team to Nextech,” said Evan Gappelberg, the company’s founder and CEO. “We look forward to completing the work already underway to create a disruptive, fully integrated, AR/AI enabled and scalable 3D modeling platform for the benefit of our existing and new e-commerce customers.”
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About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance), as well as learning and training experiences. Nextech focuses on developing AR solutions; however, most of the company’s revenues are derived from three ecommerce platforms, VacuumCleanerMarket.com (“VCM”), InfinitePetLife.com (“IPL”) and TruLyfeSupplements.com (“TruLyfe”), as well as VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. For more information about the company, visit www.NextechAR.com.
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