Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced it is acquiring an augmented reality (AR) try-on technology from Designhubz in an all-stock deal.
The company said the integration of this technology into its platform will allow Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) customers to not only visualize 3D models but also provide them with a seamless try-on experience, which enhances their product engagement and boosts their purchase confidence.
This aligns with growing consumer demand for interactive and personalized product visualizations, it noted.
"We are excited about adding this technology into our Nextech3D.ai platform which is already quite robust,” Nextech3D.ai CEO Evan Gappelberg commented.
“With this acquisition I believe we have completed our goal of becoming the end-end one stop shop for ecommerce retailers and have dramatically expanded our market into the wearables AR 3D growth segments.”
Nextech3D.ai’s platform now offers a suite of tools including texture modeling, a marketplace for 3D assets, AI-driven photo renderings, and immersive AR visualizations, creating an “all-encompassing hub for everything 3D and AR.”
"We have been investing heavily in our technology over the past five years which is evidenced by our portfolio of five patents for 2D-3D technology as well as sour recognition from Amazon as their external 3D model supplier,” Gappelberg said.
“We are continuously looking to strengthen our position in the market and platform in 3D and AR technologies and this acquisition complements our existing tech perfectly.”
The company will acquire the technology from Designhubz for 500,000 shares at a deemed price of $0.10 per share.