Binovi Technologies Corp (CVE:VISN) (OTCQB:BNVIF) (FRA:2EYA) announced it has agreed to acquire software-based vision therapy company Samurai Motion Tracking Corp and its Computer-Aided Vision Therapy (CAVT) software for a total purchase price of C$2.5 million in Binovi stock.
Binovi said CAVT is an extensive software package for developing eye tracking skills, visual thinking and processing skills, and binocular vision skills.
“This acquisition demonstrates Binovi's commitment to continually evolve our technology offering with adoptable resources to our SaaS stack,” Binovi Technologies CEO Adam Cegielski said in a statement.
READ: Binovi Technologies is harnessing technology to enhance human performance
“We are excited to bring the proven technology developed by Samurai to our growing user base of vision professionals, especially as we position ourselves for expansion into the K-12 education sector. Acquiring CAVT brings industry-recognized and relied-upon software to the Binovi Platform,” Cegielski added.
Binovi will issue 31.5 million of its common shares, at a deemed price of C$0.08 per share, to pay for the Samurai acquisition.
The CAVT software suite consists of four primary modules: Track & Read, Visual Information Processing Skills (VIPS), Visual Thinking, and Computer Vergences, which include activities and exercises to be completed by patients using a computer, originally in an optometrist/vision therapy office setting, and later at home with data being reported manually to the patient's care team.
Binovi Technologies is all about using technology to enhance human performance, employing its neuro-visual performance platform to test, analyze, track, and report on individual cognitive results. The company’s platform is currently used in over 1,500 locations in more than 20 countries.
The Binovi Platform combines software (Binovi Pro + Binovi Coach), hardware (Binovi Touch), data, expert knowledge (Binovi Academy), delivering customized, one-on-one training and learning protocols to help patients, K-12 students, and athletes on a global scale.
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