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ASX-listed software group Dubber Corp (ASX: DUB) has today acquired Brisbane-based technology company Notiv for $6.6 million in a deal that will add real-time transcription capabilities to the company’s suite of services.
Dubber, which specialises in voice intelligence software, expects the acquisition of cloud-native, AI-based product developer Notiv will add revenue generating services for the parent’s existing and expanding customer base.
The deal comes two months after Dubber raised $110 million - with the company saying at the time funds would go toward merger and acquisition opportunities, along with product development, brand awareness, and go-to-market initiatives.
Notiv is an AI-driven notetaker for meetings, enabling users to transcribe and summarise conversations, and works on all web conferencing platforms including Zoom.
"One of our fundamental beliefs is that artificial intelligence has a part to play as a standard feature of every call and conversation,” Dubber CEO Steve McGovern said.
“Notiv is a significant step towards achieving this in that it has clear and defined use cases for everyone from individuals to the largest of enterprises.
“With Notiv, Dubber will now have the ability to automatically take notes and create action items on every call. We are confident that our telecommunications carrier and service provider partners will see enormous potential for revenue-generating value-added services for their customers at scale.”
As of today, Notiv is available to Dubber Foundation Partners, select service and solution providers and sold alongside other Dubber solutions for businesses and government clients.
"The Notiv team is exceptionally proud of the technology we have developed. The ability to roll out Notiv globally with the world's leading service providers is an unmissable opportunity,” Notiv co-founder and CEO Chris Raethke said.
“The chance to join the Dubber growth journey at this time and expand Dubber's AI and NLP (neuro-linguistic programming) capabilities is exciting for all of us.
“We are confident that the combination of Dubber and Notiv will deliver incredible value to customers, businesses and our fellow shareholders alike.”
Key Notiv management and employees will stay with the business, including Raethke and fellow co-founder and CTO Dr Iain McCowan.
Shares in DUB are up 0.99 per cent to $4.07 per share at 11.48am AEST.
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