MOBOTIX has successfully partnered with Vaxtor Group as a Technology Partner for the past few years, hence the acquisition of the Spanish company that develops automatic character recognition software, using video technology. , is the logical outcome of this intensive collaboration. The strategic expansion was announced on January 17, 2022, after an agreement to buy 100% of the company's shares was signed. Due to the special importance of Vaxtor's technologies, the Spanish licensing authorities requested judicial review of the acquisition, which has now been positively decided and approved by the Spanish Ministry of Industry and Trade. takeover. The closure is now officially complete and the legal transfer of the company's shares has taken place.
MOBOTIX AG strengthens its business with the strategic acquisition of the Spanish Group Vaxtor from Tres Cantos, Madrid. The acquisition is an essential building block for MOBOTIX in its positioning as a premium solution provider based on video technology and artificial intelligence. It will also strengthen the development cooperation between Vaxtor and the MOBOTIX development office in Madrid, allowing both companies to more effectively address emerging growth markets and future requirements. . Market Intelligence estimates that the global market for automatic license plate recognition solutions alone will grow from $2.3 billion to $3.8 billion by 2025.
"Video technology has long gone beyond mere security applications. Data is the key to the future. Collecting, analyzing and connecting massive amounts of data opens up new possibilities for our customers. us," explains MOBOTIX CEO Thomas Lausten. "Video technology with artificial intelligence will help protect, support and preserve values, and make life easier, easier and better. With the combined expertise of MOBOTIX and Vaxtor, we're in the ideal position."
Vaxtor is a leading provider of artificial intelligence (AI) based video analysis software, specializing in optical character recognition (OCR) and deep learning technologies. Vaxtor's 100% in-house development, technical vision, expertise, continuous R&D investment and product quality have helped the company achieve growth and positive operating results.
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