SYDNEY: FortifAI Limited (ASX: FTI) said Monday it has completed the acquisition of FastAI Pty Ltd, securing full ownership of the Israeli firm Celerriem Ltd and its exclusive license to the Nol8 “Next Generation Binary Search Technology.”
The deal, first announced Dec. 15, 2025, and approved by shareholders Jan. 21, 2026, was finalized through the issue of 155 million fully paid ordinary shares and 150 million performance rights.
Celerriem, incorporated in Israel, holds the Nol8 license granted by the Technion Research and Development Foundation. The technology is designed to advance binary search capabilities and associated intellectual property.
As part of the acquisition, FortifAI appointed Yosef Keret to its board of directors. Keret will continue serving as chief executive officer of Celerriem. A certified public accountant, Keret has more than 25 years of experience in semiconductors, biotech and technology.
He was founding CEO of Weebit Nano (ASX: WBT), leading the company to its initial public offering, and previously held senior roles at Daimler Financial Services and Pluristem (NASDAQ). He also served as CEO of Nanorobotics, where he oversaw the development of programmable nanorobots.
Celerriem’s operations in Israel will be managed by Keret and Alon Rashelbach, the inventor of Nol8 and the company’s chief technology officer.