June 15, 2021 – Vection Technologies Ltd., a provider of real-time augmented and virtual reality (AR/VR) custom creations and software, has announced that it has signed a binding agreement to acquire European technology company and DELL Platinum and OEM partner, JMC Group.
JMC is a technology company that designs, develops, and delivers high-level integrated business technology solutions for Industry 4.0, underpinned by a knowledge in AR and VR (collectively XR), Internet of Things (IoT), Artificial Intelligence (AI) and Information and Communication Technology (ICT).
Vection stated that the acquisition will accelerate its expansion within the Europe, Middle East and Africa (EMEA) region while further integrating its XR portfolio with IoT, AI and ICT towards a 360° product suite for Industry 4.0. The company added that JMC’s growth history is expected to provide a more robust foundation for the combined group as it grows within the EMEA region.
Gianmarco Biagi, Managing Director of Vection Technologies, commented that the transaction represents a significant step in the company’s vertical growth strategy to assist businesses in their digital transformation plans via next generation integrated XR solutions.
Biagi said: “Vection’s executive team is adhering to the stated growth strategy to establish itself as a global technology company with a strong XR foundation, deeply integrated with innovative enabling technologies (including AI) and strong vertical competences. Via this acquisition we gain a significant technological and geographical advantage and the addition of key management within the European region, unlocking significant global growth opportunities for the Company. We remain focussed on completing our 2021 M&A acquisition strategy via the expansion in the U.S. while progressing on our previously stated commercial objectives.”
JMC’s Founder & CEO, Jacopo Merli, said: “We share Vection’s global vision of bringing together next-gen technologies with XR to enable companies to make the leap to the fourth industrial revolution. We are truly excited to pursue this opportunity and to grow the combined business across the EMEA region and abroad in the coming months.”
Although the companies did not disclose an amount for the acquisition, according to Australian stock market online daily The Market Herald, JMC will be purchased in an all-scrip deal at a minimum of 10 cents per share, which represents a dilution of around six per cent for existing shareholders. Furthermore, JMC’s Founder and CEO, Jacopo Merli, will also join the Vection management team to drive further growth.
Image credit: JMC