AKVA takes control of AI business Observe Technologies

AKVA group has taken full ownership of the UK aquaculture related artificial intelligence business Observe Technologies.

AKVA, the world’s largest supplier of aquaculture solutions and services, has had a one third stake in the business since February 2021.

Based in southern England, Observe Technologies has, through its partnership with AKVA, successfully developed and sold artificial intelligence (AI) feeding solutions to more than 100 fish farm sites worldwide.

Documented results show a decrease in feed conversion ratio by automating the feed process using AI technology.

Knut Nesse, CEO of AKVA, said: “The acquisition of 100% shares in Observe is of great strategic importance to AKVA and will further develop and complement our digital offerings to the market.”

AKVA now offers four digital products to the market: AKVA Fishtalk; AKVA Observe; AKVA Connect; and AKVA Submerged.

The company says that by combining these products, it now offers “a complete digital solution to enhance precision fish farming.”

Following the transaction AKVA will be the sole shareholder of Observe and own 100% of the shares.

The minimum purchase price for the 66.31% of the shares of £13.7m, has partly been settled by cash consideration, and partly by way of a sellers’ credit that will be settled in instalments to be paid over the next three years.

An additional consideration and earn out up to a maximum total purchase price of £20.5m will be paid if certain conditions are met.