ARway.ai Announces Acquisition of Map Dynamics to Accelerate Growth and Expand Offerings
–News Direct–
ARway.ai Chief Executive Officer Evan Gappelberg joined Steve Darling from Proactive to unveil the company's latest strategic move: the acquisition of Map Dynamics (MapD) in a shares-for-acquisition deal. MapD, a prominent real-world mapping software company, boasts a robust client base of over 400 clients, generating $1.2 million in annual revenue and $250,000 in EBITDA over the past 12 months ending in March 2024.
Gappelberg explained that Map Dynamics, as a subsidiary of Nextech3D.ai, brings invaluable expertise in event technology to the table. By integrating Map Dynamics' established platform with ARway's cutting-edge augmented reality (AR) navigation capabilities, the acquisition promises to accelerate ARway's product development roadmap and unlock new revenue channels and growth opportunities.
The strategic synergy between ARway and Map Dynamics positions the combined entity to offer enhanced mapping solutions that cater to a diverse range of industries and use cases. Leveraging Map Dynamics' proficiency in creating detailed venue maps and floor plans, ARway aims to bolster its platform's capabilities and broaden its market reach.
Gappelberg expressed enthusiasm about the merger's potential to redefine the landscape of interactive mapping technology. By seamlessly integrating ARway's AR navigation features with Map Dynamics' mapping solutions, the company aims to deliver innovative and comprehensive mapping experiences that cater to the evolving needs of businesses and consumers alike.
With the acquisition of Map Dynamics, ARway.ai is poised to strengthen its position as a leader in the mapping software industry and pave the way for further innovation and growth in the augmented reality space.
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View source version on newsdirect.com: https://newsdirect.com/news/arway-ai-announces-acquisition-of-map-dynamics-to-accelerate-growth-and-expand-offerings-417326728
ARway.ai
COMTEX_452693048/2655/2024-05-21T11:50:43
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