Vection Technologies Acquires Generative AI Firm

Vection Technologies Ltd. (AU:VR1) has released an update.

Vection Technologies Ltd. has announced the acquisition of The Digital Box S.p.A., a generative AI company, which reported a significant $10 million in revenue for FY24. The deal, which includes the appointment of former Apple COO Marco Landi to the board, is coupled with a $2 million equity funding round to fortify Vection’s balance sheet and fuel growth. The acquisition aims to integrate AI and XR technologies, leveraging cross-sell opportunities and boosting revenue and EBITDA.

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