Nextech AR Solutions Corp., a provider of augmented reality experience technologies and services, has closed the acquisition of Threedy.ai Inc., a provider 3D artificial intelligence modeling for ecommerce companies based in Silicon Valley, California.

“I’m pleased to officially welcome Nima, Max and the Threedy team to Nextech,” commented Evan Gappelberg, founder and CEO of the company. “We look forward to completing the work already underway, to create a disruptive, fully integrated, AR/AI enabled and scalable 3D modeling platform for the benefit of our existing and new e-commerce customers.”

Upon closing of the acquisition, the Company issued 3,877,551 common shares in the capital of the company at an agreed value of US$2.45 per share (CA$3.01 per share), for total share consideration of $9.5 million. The common shares will be subject to certain contractual restrictions on trading for a period of up to 23 months from the date of issuance.