AKVA has completed its takeover of UK-based tech firm, Observe Technologies to help strengthen its digital capabilities.
AKVA previously owned a third of Observe, with the pair working together to successfully develop and market AI feeding solutions to more than 100 farms worldwide.
“This is a unique opportunity to be a key offering in AKVA’s precision farming solution while giving us the operational flexibility to continue to develop the business,” said Hemang Rishi & Pieter Fabry, chief executive & chief technology officer of Observe Technologies respectively.
“We firmly believe AKVA’s approach, combined with operational gains we have already provided, will drive the industry towards even more sustainable outcomes.”
Tests show that using smart solutions to automate the feed process results in a lower feed conversion ratio, says AKVA. Following this latest acquisition the group now offers four digital products – AKVA Fishtalk, AKVA Observe, AKVA Connect and AKVA Submerged.
“The acquisition of 100% shares in Observe is of great strategic importance to AKVA and will further develop and complement our digital offerings to the market,” said Knut Nesse, chief executive of AKVA.
Before the takeover, AKVA owned 33.69% of the shares in Observe. The remaining 66.31% has been sold at a cost of £13.7 million. And additional consideration up to a maximum purchase price of £20.5 million will be paid if certain conditions are met, says AKVA.
