OMNIQ ANNOUNCES THE ACQUISITION OF CODEBLOCKS LTD A LEADING FINTECH SOFTWARE DEVELOPER
The acquisition augments omniQ’s existing fintech presence in self-service kiosks, credit card payment systems, and point-of-sale technologies.
SALT LAKE CITY, Feb. 05, 2024 (GLOBE NEWSWIRE) -- OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Artificial Intelligence (AI)-based solutions, announced today that its wholly owned subsidiary acquired CodeBlocks Ltd (CodeBlocks) a leading Fintech software company with over 80,000 deployments.
OmniQ, acquired CodeBlocks in exchange for NIS 4,666,664 (approximately US $ 1,275,044 based on today’s exchange rate). The consideration is payable in seven equal installments with the final payment due on January 11, 2025. The purchase Agreement closed on February 1, 2024.
Shai Lustgarten, CEO, of omniQ commented “We are excited to welcome the CodeBlocks scientists to our team as we see the Fintech market as a significant growth engine and profit generator for omniQ. We will enjoy immediate cost savings by utilizing CodeBlocks technology, replacing historical licensing fees. In addition, as we integrate our proprietary software, we believe that we will have the opportunity to capture a bigger market share as well as introduce our solution to the US and other markets globally.”
Erez Attia CEO of CodeBlocks commented: “Following years of successfully developing our proprietary Fintech software, we are excited to join forces with a strong team and a dynamic company like ominQ in order to provide innovative solutions to the modern Fintech market.”
About OMNIQ Corp:
omniQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance an monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, oil, gas, and chemicals.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $67.1 billion by 2028, and the smart parking market, forecasted to grow to $16.4 billion by 2030 and the fast-casual restaurant sector expected to reach $209 billion by 2027.
The technology and services provided by OMNIQ help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
For more information please visit www.omniq.com.
Information about Forward-Looking Statements
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