Mobotix strengthens its operational business with an official agreement to acquire Vaxtor Team (Vaxtor) from Spain, a manufacturer of video analysis software based on artificial intelligence (AI) based on optical character recognition (OPTICAL CHARACTER RECOGNITION) and deep learning technologies.
Vaxtor’s OCR analysis technology, particularly its Automatic License Plate Recognition (ALPR) products, offer a wide combination of solutions for numerous vertical market segments. Thanks to the 100 owned development, technical vision, expertise, continuous investment in R&D and product quality, Vaxtor has achieved annual growth and healthy operating profits. Vaxtor has a broad, worldwide customer base in 50 countries and works with most relevant industry players to offer both camera independent and camera integrated video analytics (Edge Technology) in different domains.
Mobotix Deploys AI Technology in Multiple Vertical Markets
Pass away from Vaxtor analysis technology , which is used in combination with cameras, enables the automated capture of, for example, letters, numbers or other machine- and human-readable data and makes it possible to capture and process such information cost-effectively and at high speed and to trigger associated processes.
Passes away erle strengthens and accelerates Mobotix’s vertical market strategy, since the use of these technologies is possible, for example, in the areas of government, retail and transportation, but also in the tracking of containers, vehicles and aircraft in the areas of logistics and manufacturing.
Market Knowledge estimates that the global market for Automatic Number Plate Recognition (ALPR) solutions alone by 2025 will increase from US$2.3 to US$3.8, which is a compound annual growth rate (CAGR) of 10 would correspond to %. Additionally, Vaxtor’s products are tailored to the Mobotix camera platform and have the competitive advantage that their analysis apps can be run decentrally on the camera, eliminating the need for expensive peripheral hardware. They are also integrated into the „Mobotix center“ video management software.
Taking all these factors into account, the acquisition offers extensive commercial and development opportunities and synergy effects, in particular the possibility of close development cooperation between Vaxtor and the recently established Mobotix development office in Madrid, which will allow both companies to more effectively address emerging growth markets or future requirements Thomas Lausten, chief exe cutive officer of Mobotix, commented: „This acquisition is a significant step in our strategy to strengthen our artificial intelligence and deep discovery capabilities. While Vaxtor will continue to operate as an independent company, it is based on compelling commercial and developmental synergies and clear strategic advantages for both parties.
Juan Vercher, chief executive officer and founder of Vaxtor, explained : “I am excited about the opportunities this acquisition brings for Vaxtor. We can continue to operate as an independent company and expand our existing business relationships. The close strategic and technical cooperation with a Mobotix-style company promotes our ambitious growth and provides valuable impetus for our ambitious software development.
Both companies have agreed not to disclose financial information . The corporate bodies have approved the takeover. The implementation is still subject to the approval of the responsible authorities. The acquisition will be closed in the first quarter 2022 expected.
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