Vection Technologies (ASX: VR1) has secured a $1.6 million artificial intelligence (AI) software licence contract for the Brexia Med healthcare project using technology developed by proposed takeover target The Digital Box (TDB).
TDB develops and markets 3D and AI platforms based on advanced natural language processing technology that enables voice interaction with data, services and information systems.
Brexia Med intends to deploy TDB’s Algho AI software as part of an innovative “hub & spoke” healthcare model.
Vection revealed in August that it was proposing to acquire TDB in a deal with an initial enterprise value of around $12 million, with up to 55 million Vection shares to be issued if TDB achieves sales, EBITDA objectives and balance sheet valuation targets one year post-acquisition.
Vection managing director Gianmarco Biagi said the new sale – secured through TDB’s partner Nexylab – aligns with Vection’s plan to integrate the TDB team and technology into its global business.
“This contract marks a significant milestone in showcasing the power of TDB’s AI capabilities—by providing AI-powered solutions, we are helping Brexia Med revolutionise its patient screening processes, creating a more efficient healthcare system,” he said.
“The Algho AI platform is a game changer, demonstrating how AI can transform critical sectors like healthcare,” he added.
“This partnership highlights the potential of AI in driving innovation and opens doors to further opportunities in AI integration across the medical industry and beyond.”
The contract also includes an extension option for an additional two years, potentially increasing its total value to over $2.5m.
In late October, Vection announced it had partnered with Dell Technologies to launch the Algho platform, while at the same time securing its first sale of the software at around $500,000.
The collaboration aims to strengthen Vection’s position in AI and spatial computing, with the Algho platform now available to Dell’s salesforce and partners.
The platform leverages TDB’s AI layer, showcasing the synergy and potential of the TDB acquisition.
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