TORONTO: ARway.ai, known for its AI-powered AR experience platform, has announced the strategic acquisition of Map Dynamics (MapD), a leading event technology company.
The deal, which involves an exchange of 4 million ARway shares valued at over $1 million, is set to significantly enhance ARway’s position in the AR and mapping technology markets.
Map Dynamics, previously owned by Nextech3D.ai, boasts a strong client base of over 400, generating $1.2 million in annual revenue and $250,000 in EBITDA as of March 2024. This acquisition is expected to fast-track ARway’s product development roadmap and introduce new revenue channels focused on interactive mapping solutions.
Evan Gappelberg, CEO of ARway.ai, expressed his enthusiasm for the merger, stating, “The acquisition of Map Dynamics marks a pivotal step in strengthening ARway’s market presence. By integrating MapD’s robust event technology with our innovative platform, we anticipate delivering unparalleled value to our customers.”
The merger promises to combine ARway’s AR navigation capabilities with Map Dynamics’ expertise in creating detailed venue maps and floor plans, rolling out new solutions that will enhance indoor mapping and interactive navigation experiences.
This strategic acquisition is poised to create a more comprehensive AR navigation and experience platform, setting a new standard for indoor mapping solutions and interactive maps for navigation.
Map Dynamics customers and partners will continue to have access to the full platform and can expect new feature additions to assist booth sales, attendee registration and immersive navigation with ARway.
ARway.ai (CSE: ARWY) (OTCQB: ARWYF) (FSE: E65) is a spatial computing platform powered by artificial intelligence (AI) providing an array of augmented reality (AR) experiences for indoor spaces. ARway’s breakthrough no-code no-beacon IPN allows for the easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works seamlessly as a cross platform solution on iOS/ Android.
ARway’s technology is optimized for both mobile devices and AR glasses: Apple’s Vision Pro, Magic Leap and Microsoft’s HoloLens. ARway has unlimited use cases for augmenting physical spaces, making it a valuable tool for creators, brands and companies in various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for iOs and Android.
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