Publicly listed cloud call recording service provider Dubber has inked a deal to acquire Brisbane based technology group Notiv in a deal worth $6.6 million.
Previously owned by US based holding company Pinch labs, Notiv develops cloud-native artificial intelligence (AI) based products designed to help turn meetings into transcribed notes, summaries, signals, actions and more.
It is hoped the integration of the Notiv business into Dubber will expose the capability of the Notiv offering to a global customer base and allow the Notiv team to develop a continuous stream of revenue-generating services for Dubber’s addressable market.
“We welcome the Notiv team to Dubber along with the AI and data science expertise they bring,” said Dubber CEO Steve McGovern. “We see the teams combining to form the core of our Dubber AI Labs for developing future AI capabilities.
"One of our fundamental beliefs is that artificial intelligence has a part to play as a standard feature of every call and conversation.
“Notiv is a significant step towards achieving this in that it has clear and defined use cases for everyone from individuals to the largest of enterprises.
“With Notiv, Dubber will now have the ability to automatically take notes and create action items on every call. We are confident that our telecommunications carrier and service provider partners will see enormous potential for revenue-generating value-added services for their customers at scale,” he added.
The deal, worth $6.6 million in total, consists of $5.15 million in cash, with the remainder to be paid in 386,277 Dubber fully paid ordinary shares at a deemed issued price of $3.75.
Notiv, which also claims a US base in California, will be available to Dubber Foundation Partners, select service and solution providers and sold alongside other Dubber solutions for businesses and government.
To date, Dubber claims to have over 150 global service provider network partners.
In December last year, Dubber launched a global partner program for Cisco and its resellers.
The move was aimed at supporting the company’s Unified Call Recording (UCR) and Voice AI solution available on major Cisco voice platforms and includes a dedicated portal, support programs and sales incentives.
Dubber’s recording and data capture platform is natively integrated into the Cisco Webex Calling Cloud Collaboration suite.
Earlier last year, in May, Dubber acquired its Australian-based competitor CallN for $1.17 million.
McGovern said at the time that the consolidation of the two companies would help accelerate many clients as they move their call recording to the cloud.