VCI Global Acquires 51% Stake In Proprietary Artificial Intelligence 3D Modeling Platform For CAD$12.1M
Portfolio Pulse from Benzinga Newsdesk
VCI Global Limited (NASDAQ:VCIG) has acquired a 51% stake in a special purpose vehicle (SPV) for CAD$12.1M, which includes assets from Nextech3D.AI Corporation's AI 3D modeling platform. This platform has seen a significant demand with over 50,000 3D models delivered, contributing to a 97% revenue growth for Nextech3D.AI in the first nine months of 2023. The global 3D modeling market is projected to grow at a CAGR of up to 20% until 2030, indicating a substantial market opportunity for VCI Global.
December 18, 2023 | 1:32 pm
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VCI Global's acquisition of a majority stake in an SPV with Nextech3D.AI's AI 3D modeling assets positions the company to capitalize on the growing 3D modeling market, which is expected to expand significantly until 2030.
The acquisition of a 51% stake in the SPV with Nextech3D.AI's assets is a strategic move for VCI Global, tapping into the 3D modeling market that has shown robust demand and is projected to grow at a CAGR of up to 20% until 2030. The reported 97% revenue growth for Nextech3D.AI and the delivery of over 50,000 3D models indicate strong performance and potential for further growth, which could positively influence VCI Global's stock price in the short term.
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