MELBOURNE, AUSTRALIA: Dubber Corporation Limited has acquired Notiv, a developer of innovative cloud-native AI-based products that turn meetings into transcribed notes, summaries, signals, actions, and more.
“Dubber has acquired Notiv through the purchase of all of the issued share capital of holding company Pinch Labs, a US corporation that wholly owns and operates the Brisbane-based operations and technology for an aggregate consideration of approximately A$6.6 million, a bourse filing noted on Monday.
Steve McGovern, CEO, Dubber Corporation: “One of our fundamental beliefs is that artificial intelligence has a part to play as a standard feature of every call and conversation. Notiv is a significant step towards achieving this in that it has clear and defined use cases for everyone from individuals to the largest of enterprises.
With Notiv, Dubber Corporation will now have the ability to automatically take notes and create action items on every call.
We are confident that our telecommunications carrier and service provider partners will see enormous potential for revenue-generating value-added services for their customers at scale.
We welcome the Notiv team to Dubber along with the AI and data science expertise they bring. We see the teams combining to form the core of our Dubber AI Labs for developing future AI capabilities.
The integration of the Notiv business is accretive for both parties in that Dubber can expose the fantastic capability of the Notiv offering to a global customer base and the Notiv team can develop a continuous stream of revenue-generating services for Dubber’s addressable market.
Dubber’s overall strategy is to grow organic Annualised Recurring Revenue (ARR) while augmenting that growth with strategic acquisitions where possible. Acquisitions must either add accretive and synergistic revenue or provide substantial product and technology capability, which will drive organic ARR growth.
The Notiv acquisition reflects that strategy perfectly, and the speed at which the parties have executed the transaction now enables the Company to continue to pursue other identified opportunities.”
Notiv will be available to Dubber Foundation Partners, select service and solution providers and sold alongside other Dubber solutions for businesses and Government.
Chris Raethke, Co-Founder & CEO, Notiv: “The Notiv team is exceptionally proud of the technology we have developed. The ability to roll out Notiv globally with the world’s leading service providers is an unmissable opportunity. The chance to join the Dubber growth journey at this time and expand Dubber’s AI and NLP capabilities is exciting for all of us. We are confident that the combination of Dubber and Notiv will deliver incredible value to customers, businesses and our fellow shareholders alike.”
James Slaney, COO, Dubber Corporation: “Dubber has over 150 global service provider network partners as well as all of the world’s primary unified communications solutions – and is the only true native, cloud-first service of its kind.
Our strategy has always been to use this footprint to deliver layers of value and drive associated revenues. Notiv suits this strategy perfectly and accelerates our existing AI program in three ways.
Notiv will provide Dubber with a world-class team with deep expertise in AI and data science.
Dubber Corp Ltd share price
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20 Sep, 3:31 pm GMT+10 ·Disclaimer