Power poles meet AI in new IKE deal

Tue, 05 Jan 2021

IkeGPS, the NZX-listed utility measurement firm, has acquired assets of Visual Globe LLC, a US artificial intelligence – AI – specialist in automated power pole analysis.The deal comprises an initial payment of US$3.3 million in cash, with a potential additional US$4.99 million in cash and up to US$2.1 million in IkeGPS shares. The assessment period runs until March 31, 2024.The earnout payments are subject to the acquired assets delivering revenue targets of US$21 million in aggregate over the period to March 2024 and the retention...

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