This All-Stock Transaction Enhances ARway.ai's Product Offerings, Increases Revenue, Reduces Burn, and Creates Shareholder Value Through Synergistic Technology Integration.
TORONTO, ON / ACCESSWIRE / May 21, 2024 / ARway.ai ("ARway" or the "Company") (CSE: ARWY)(OTC: ARWYF)(FSE: E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision is pleased to announce that it has agreed to acquire Map Dynamics (MapD) in exchange for or 4 million shares valued at over $1mill based on Fridays closing price of $0.26/share. Map D is a real world Mapping Software company that has over 400 clients generating $1.2 million in annual revenue with $250,000 in EBITDA over the past 12 months ending in March, 2024. Map Dynamics is a well-established event technology company wholly owned by Nextech3D.ai (OTCQX: NEXCF / CSE:NTAR). This strategic acquisition combines two interactive mapping platforms expected to fast track ARway's product development roadmap and add significant new revenue channels and growth opportunities as both companies focus exclusively on mapping.
Evan Gappelberg, CEO of ARway.ai, commented on the acquisition:
"We are excited about ARway's acquisition of Map Dynamics, a move that significantly strengthens ARway's position in the augmented reality and mapping technology markets. This strategic integration of MapD's robust event technology with ARway's innovative AI-powered platform promises to deliver exceptional value to both companies. He continues "This merger not only fast-tracks ARway's product development roadmap but also opens up new revenue channels through indoor mapping solutions and interactive maps for navigation, enhancing the overall user experience and making ARway a more comprehensive augmented reality navigation and experience platform.
With the strategic combination of ARway and Map Dynamics technologies, ARway is set to enhance its platform and expand its market offerings significantly. This merger will merge ARway's augmented reality navigation capabilities with Map Dynamics' expertise in creating detailed venue maps and floor plans.
Here's how this integration will roll out new solutions and add value:
Indoor Mapping Solutions:
Enhanced 2D and 3D Maps: ARway will utilize Map Dynamics' expertise to transform basic building floor plans into sophisticated, detailed maps that orient and inform visitors. These maps will be accessible both online and offline, enhancing the user experience across various properties like shopping malls, airports, and universities.
Omni-channel Accessibility: The integration ensures that these detailed maps are not only available on ARway's platform but can also be accessed through various channels, significantly broadening the user engagement points.
Interactive Maps for Navigation:
Same Tools for New Markets: Leveraging the tools that Map Dynamics' customers currently use, ARway will introduce interactive maps with advanced wayfinding capabilities. This will allow users to not only navigate through physical locations via augmented reality but also view their routes on interactive 2D and 3D maps remotely.
Enhanced Remote Access: With the integration, users will be able to access navigation routes through digital directories and kiosks at properties, on websites and mobile browsers, enhancing the flexibility of usage.
Robust Content Management System:
Directory and Search Capabilities: ARway will enhance its directory features, which help users search for Points of Interest (POIs) within a venue, by integrating Map Dynamics' content management system. This system is adept at handling large volumes of exhibitor information, which will now support ARway's platform in managing detailed venue data effectively.
Scalable Setup Experiences: The Map Dynamics platform and team's experience in setting up extensive trade show maps under tight deadlines will enable ARway to offer a seamless map setup experience for its customers in various sectors, including retail, tourism, and healthcare.
Map Dynamics customers and partners will continue to have access to the full platform and can expect new feature additions to assist booth sales, attendee registration and immersive navigation with ARway.
Top trade shows/events with Map D
NATDA Trailer Show - Music City Center Nashville, Tennessee
American Distilling Institute - ADI 2023 Craft Spirits Conference & Expo, Las Vegas, Nevada
Adult Video Network - AVN Adult Entertainment Expo Las Vegas, Nevada
CannaCon - Multiple shows across the US
The National Association of Sporting Goods Wholesalers - 2023 NASGW Expo & Annual Meeting
Top companies MapD partners with
EventHub
American Tradeshow Services
Rainfocus
Tradeshow Logic
Kellen
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About ARway.ai
ARway.ai (CSE: ARWY) (OTCQB: ARWYF) (FSE: E65) is a spatial computing platform powered by artificial intelligence (AI) providing an array of augmented reality (AR) experiences for indoor spaces. ARway's breakthrough no-code no-beacon IPN allows for the easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works seamlessly as a cross platform solution on iOS/ Android. ARway's technology is optimized for both mobile devices and AR glasses: Apple's Vision Pro, Magic Leap and Microsoft's HoloLens. ARway has unlimited use cases for augmenting physical spaces, making it a valuable tool for creators, brands and companies in various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for iOs and Android.
Nextech 3D.ai
On October 26, 2022, ARway.ai. was spun-out from its parent Company, Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS). Nextech retained a control ownership in ARway.ai. with 13 million shares, or a 50% stake. Nextech3D.ai is a Generative AI powered 3D modeling Company and leading provider of augmented reality ("AR") experience technologies and 3D model services. Nextech's AI-powered 3D modeling platform, "ARitize3D" has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech3D.ai, visit www.nextechar.com
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@arway.ai
ARway.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway.ai will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: ARway Corporation
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