LMI Technologies, based in Vancouver, British Columbia, developer of 3D scanning and inspection technology, has acquired artificial intelligence (AI) and industrial internet of things (IIoT)/5G inspection company FringeAI, based in Boston, Massachusetts.
FringeAI will form a new AI Solutions group within the LMI Technologies group of companies. The transaction was financed by TKH Group N.V., a shareholder of the LMI Group of companies.
“With FringeAI, LMI can combine a highly effective AI software solution to deliver the benefits of AI deep learning to the factory that includes sensor hardware and cloud-based support for the most challenging 2D and 3D inspection tasks.” said Mark Radford, CEO, LMI Technologies.
“FringeAI is a perfect acquisition for LMI Technologies because they make the world’s best 3D industrial smart sensors and edge processors and have a world wide channel partner and support network,” said Chris Aden, founder of FringeAI.
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