AKVA Group Acquires 33.7% Equity Stake in Observe Technologies
Aquaculture technology group AKVA has taken a stake in software development company Observe Technologies Ltd. with the purpose of further establishing the group's digital strategy, as presented at the recent Capital Markets Day. AKVA has acquired 33.7% of Observe’s total equity.
Observe develops artificial intelligence-based productivity software intended to optimize automated feeding management. The company’s platform applies computer vision, a component of AI that enables computerized systems to interpret their observable environment, as well as machine learning, which enables the systems to learn and improve from their experiences with minimal human intervention.
Resultantly, the platform can suggest and monitoring optimal quantities and timing of feeding on large-scale fish farms.
AKVA has worked as a partner to Observe Technologies on the development and delivery of their software since 2018. Through their partnership thus far, Observe has successfully sold and delivered their AI feeding solutions to over 20 farm sites in 5 different countries. The businesses have agreed to continue developing and leveraging their technological techniques to potential customers throughout their new agreement.
Improving Growth and Lowering Feed Conversions Through Expanded Partnership
For more information about the partnership between AKVA Group and Observe Technologies, check out the AKVA Groups blog at Blog.AKVAGroup.com:
“‘We have been partners with Observe technologies on the development and delivery of their AI feeding solution since 2018, so it is great to be able to further strengthen the relationship by taking an equity stake,’ says Andrew Campbell, COO International in AKVA group.
‘The AI technologies of Observe and the customer base of AKVA presents an exciting opportunity to bring new precision feeding solutions to fish farmers around the world to help improve growth and lower feed conversions,’ Campbell says.
AKVA Observe has a growing presence also in the Nordic market the recent years.
‘We are experiencing an increased demand for AKVA Observe and positive feedback from customers. Observation and analysis in real time with instant and simple presentation of the data is key for effective operation. AKVA Observe is pure software that can be used with any kind of hardware e.g., existing cameras - thus no need for additional equipment in the cages to take advantage of AKVA Observe’, says Thomas Hoff, Sales Manager Software.”
Source: AKVA Group Acquire 33.7% of Observe Technologies - AKVA Group
https://www.akvagroup.com/news/akva-group-acquire-33-7-of-observe-technologies#:~:text=AKVA%20group%20has%20acquired%2033.7,the%20recent%20Capital%20Markets%20Day.
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Written by AQUAMERGE
February 26, 2021