Xylo Technologies Ltd., a technology-based company known for its innovative technologies, has recently announced its intention to acquire a leading German company specializing in artificial intelligence (AI) predictive maintenance and condition monitoring technologies. This strategic move is expected to expand Xylo’s portfolio to include advanced AI technologies that are utilized across various industries.
The Target Company, a European leader in AI and machine learning algorithms, has been at the forefront of merging these technologies with advanced hardware solutions for over a decade. Their expertise spans multiple sectors such as aerospace, aviation, transportation, real estate, and security, making them a valuable asset for Xylo’s growth strategy.
Under the terms of the letter of intent, Xylo will make an initial down payment of 1.5 million Euros and acquire 51% of the Target Company’s outstanding shares. The remaining 49% will be purchased based on the actual 2024 EBITDA results, determining the final price of the transaction.
This strategic acquisition was identified with the help of Xylo’s newly appointed senior advisor, who brings a wealth of experience in the field of AI. With a focus on high-growth potential technologies, Xylo aims to leverage the Target Company’s capabilities to enhance its offerings in the market.
Xylo Technologies Ltd. is a Nasdaq-listed company based in Israel, with a focus on growth partnerships in advanced medical solutions, digital commerce, and electric vehicle markets. To learn more about Xylo’s advanced technologies and this recent acquisition, visit their investor relations website at https://ir.xylotech.ai/.