Gimme! Gimme! Gimme! AI after midnight: Firm behind London ABBA Voyage in £8.1m tech swoop
Oxford Metrics, the firm and technology used for ABBA Voyage, has today announced it has entered into a £8.1m acquisition agreement for AI software company Industrial Vision Systems (IVS).
IVS is known for its automated quality control systems used across various industries and will be a “good strategic fit,” Oxford Metrics said.
The group, whose technology has enabled London’s holographic Abba Voyage experience, will use the acquisition to further expand on already in-use technology services to offer more worldwide.
As of mid-day Wednesday, Oxford Metrics’ share price was up 2.7 per cent to 89p per share.
Chief executive of Oxford Metrics Imogen Moorhouse said the announcement strengthens the company’s “sense, analyse and apply strategy.”
She added: “Through its cutting-edge machine vision solutions, IVS replaces traditional inspection methods with smart sensing. This results in faster, more reliable, and highly accurate results, providing well-known brands with the latest machine vision automation.”
IVS co-founders, Earl Yardley and Andrew Waller, said Oxford Metrics is the only “home” that was under consideration for IVS as it holds the same culture and value, along with a track record of success.
“We are on a mission to make companies more efficient, highly flexible and quicker with our machine solutions. As part of Oxford Metrics, we will continue to develop and broaden our technology offering with an ongoing focus on innovation and research & development,” they said.