Edge Total Intelligence Completes Acquisition of Austal Australia's Technology Division
Edge Total Intelligence Inc. has completed the acquisition of technology assets from Austal Limited, which includes software for aviation planning and marine applications. This deal is part of a broader collaboration agreement that grants Austal a right of first refusal for joint ventures in the marine and maritime sectors, as well as the ability to nominate a board member to EdgeTI, contingent on maintaining a minimum shareholding.
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Edge Total Intelligence Inc. has finalized its acquisition of technology assets from Austal Limited, including a planning software product for aviation, a branched LUSI solution, and an enterprise asset management software suite focusing on marine applications. The acquisition is part of a larger framework collaboration agreement.
According to the agreement, EdgeTI will provide Austal a right of first refusal for joint opportunities in the global marine and army maritime industries and the commercial fast ferry industry across various jurisdictions. Additionally, Austal has the right to nominate a board member to EdgeTI, contingent on maintaining a shareholding of at least 5%. This nomination right will remain until Austal's shareholding falls below the specified threshold for over 20 consecutive days.
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