The organization, listed on the Australian Stock Exchange, specializes in spatial computing technologies and aims to grow even further in the coming years. How? By implementing artificial intelligence both from a business perspective and at an operational level through targeted and strategic actions such as the acquisition of The Digital Box – Quest-IT, an Italian company in the Generative Artificial Intelligence & Digital Strategies sector. "We are a very ambitious company, and that’s exactly why we have decided to invest in artificial intelligence to strengthen our position as market leaders," says Gianmarco Biagi, CEO & Managing Director of Vection Technologies.
"Investing is simple, but it’s not easy":
with these few, but never trivial words, renowned entrepreneur and economist Warren Buffett recently defined the term investment, which, more than ever today, is living every day, teetering between risks and uncertainties.
Despite this, there are still solid points on which businessmen and entrepreneurs can focus their attention: among them, artificial intelligence certainly stands out, a technology of the moment that will have increasing space and relevance in the daily lives of both young and old. This scenario is well known to the most important companies and global entities, such as Vection Technologies, a multinational with an Italian heart, listed on the Australian Stock Exchange and specialized in spatial computing technologies, which, after closing the latest revenue at 45 million dollars following the acquisition (+73% compared to 2023), aims to make targeted and strategic investments to further enhance both its business and corporate services.
Staying on the same wavelength, the company’s first AI-focused strategic investment takes shape with the acquisition of The Digital Box – Quest-IT, an Italian company in the Generative AI & Digital Strategies sector, for a total of 12 million euros. "We are a very ambitious company that aims to achieve increasingly rewarding results," says Gianmarco Biagi, CEO & Managing Director of Vection Technologies. "Our reference sector is a booming market, with revenues exceeding 100 billion euros by the end of 2023, and that’s why we are ready to seize the moment by making highly effective investments centered on artificial intelligence, a super strategic asset for us, which we will integrate by leveraging the potential and experience of Quest-IT, a tech company that is part of The Digital Box."
Over 3,000 clients and 1,000 resellers:
These are just some of the results, following the acquisition, that most distinguish Vection Technologies, an innovative company that also boasts various locations in Italy, the United Arab Emirates, Australia, and the United States.
Delving more into the company’s sector of competence, namely spatial computing, it’s important to specify that these are technologies capable of offering phygital experiences where the digital and physical worlds meet, creating a new immersive universe thanks to the use of futuristic innovations like next-generation headsets. Today, these futuristic solutions by Vection Technologies are already applied in various sectors, including healthcare, manufacturing, energy, and defense.
From an economic standpoint, it is expected that the global market will approach 800 billion within the next nine years, with a compound annual growth rate exceeding 22%.
"Thanks to this acquisition, we will further strengthen our AI-focused project and gain an advantage over our competitors right from the start," adds Marco Landi, former Apple president and upcoming Chairman of Vection Technologies. "As a leading company in our sector, we are very proud to enhance the expertise of a multinational like Vection Technologies, a company that aims to strengthen its leadership position both nationally and globally. Through this strategic action, we want to open our doors to horizons that go far beyond Italy, thus highlighting our technology and our professionals."