Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) said it has signed a definitive agreement to acquire all remaining shares of ARway that it does not already own, moving to fold the augmented-reality navigation platform back into the company and create a consolidated technology stack for the global events industry.
The deal follows a previously announced plan for the AI-first 3D modeling and event technology company to take full ownership of ARway, which it spun out in 2022.
Nextech currently owns about 40% of ARway, while management holds another roughly 20%.
The companies said the transaction is expected to streamline operations, reduce overlapping costs and accelerate product development across artificial intelligence, augmented reality and 3D tools. ARway owns Map Dynamics (Map D), a platform used by hundreds of event organizers for interactive floor plans, exhibitor tools, ticketing, mobile apps and blockchain ticketing.
Bringing ARway in-house will allow Nextech to combine Map D with its own tools to offer a unified suite covering event setup, AI-driven matchmaking, AR navigation, ticketing, payments and blockchain capabilities, the companies said. The integration is a key part of Nextech’s strategy to expand recurring SaaS revenue.
“This reacquisition streamlines Nextech3D.ai into a stronger, more unified company,” Nextech CEO Evan Gappelberg said in a statement. “Integrating Arway with Map D accelerates our vision for a full AI-powered event technology suite.”
Under the terms, each ARway share will be exchanged for about 0.514 Nextech shares. Nextech has 225.3 million shares outstanding, while ARway has 38.6 million.
The deal includes the issuance of 19.9 million Nextech shares as consideration, based on a deemed price of C$0.083 per ARway share and C$0.161 per Nextech share.