Livento Group (NUGN) Artificial Intelligence Acquisition Complete
New York, NY
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March 06, 2023 09:20 AM Eastern Standard Time
McapMediaWire --- NuGene International, Inc./Livento Group, Inc. (OTC: NUGN), a dynamic group that specializes in acquiring and developing companies with disruptive business models in film, content, and technology for fund managers, announced it has finalized the acquisition of Novel-Ti, a company specializing in Artificial Intelligence and Robotic Industry Solutions.
About Novel-Ti
Novel-Ti was created in 2013 by two partners, an engineer in computer science and a PhD engineer who is qualified in electrical engineering and fuzzy logic, which is an approach to variable processing that allows for multiple possible truth values to be processed through the same variable.
Novel-Ti has eight engineers and PhD engineers. It has developed many bespoke innovative applications, utilizing artificial intelligence and computer vision in different sectors including the finance, automotive and healthcare sector. We will be releasing more information about the nature of some of the very sophisticated programs developed by the company in the coming days. The company’s clients have included major corporations and business who are seeking unique solutions to solve complex problems.
David Stybr - Livento Group CEO - “The artificial intelligence market equated to $50 billion USD in 2020 and is expected to reach $185 billion USD in 2026. The Novel-Ti acquisition is just the start of what investors and customers will see from the Livento AI & Robotics Solutions division. After completion of the acquisition and integration of the Novel-Ti acquisition, we will focus on business growth and harnessing the power of the team to add value across the Livento Business. Livento will remain opportunistic regarding further acquisitions within the industry. We forecast revenue of $1M USD in 2023 from their existing clients and additional revenue from solutions developed by the team that are sold as solutions across the industry. An example of this is project ‘OWL’. OWL is a very exciting project and the Novel-Ti Solution is transformational.
About OWL
At Livento Group we couldn’t pass up this opportunity to acquire a company that specializes in treating neurological disorders and diseases that effects millions of people around the world. The uncontrolled annual growth of neurodevelopmental and neurodegenerative pathologies requires an urgent solution. It’s estimated that Autism effects 75 million people, Alzheimer’s effects 78 million people, and will cost society an estimated $2.8 Trillion USD by 2030.
To fight against this disease, Novel-Ti uses its expertise in Artificial Intelligence and image processing. Novel-Ti has developed an interactive solution in collaboration with professionals in neurological pathologies. The application identifies areas of brain, which require an active reconnection.
The visual analysis of the participants behaviour in real time allows the system to monitor and adapt each exercise individually, as well as analysing the progress made at each session.
A unique hardware and software solution
The second project in the pipeline for Novel-Ti is in the Robotics sector. The Livento team is in discussions with a production facility in the Czech Republic. The facility specializes in producing robotics solutions, The Novel-Ti team is tasked to deliver programming works for two new automated robotic prototypes which will be used in various business cases. Livento is in discussion to have larger involvement in the projects. Livento will seek to achieve higher revenue potential in the Articifial Intelligence sector.
Mr Zied Loukil, founder of Novel-Ti, stated: “Livento plans to position the new division as a major player in the Artificial Intelligence industry, combining the strengths of the Marketing and Commercial power of Livento and the expertise of the Novel-Ti team, which will enable Novel-Ti to grow our client base and product lines increasing revenues and market share.”
The new division of Livento will be managed from our European offices and will be led by Mr. Willem van der Meer, Mr. Olivier Somville and Mr. Zied Loukil. The acquisition will be fully paid in Livento restricted shares.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references future events and expectations, possibilities or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact:
David Stybr, CEO
Livento Group, Inc.
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