In a recent development, 1431885 B.C. Ltd., Generative AI Solutions Corp. subsidiary, is set to acquire key intellectual property assets from Metachain Technologies Inc. This acquisition includes the rights to an AI asset designed for a mobile app, coined as SpeakGPT. This application is predicted to revolutionize the virtual assistant landscape.
Acquisition of SpeakGPT’s AI-driven Assets
Under the agreement, Generative AI’s subsidiary will obtain all essential IP Assets integral to the SpeakGPT application. These encompass intellectual property rights, source code, interface, and all other components of a software package required for app operation. This move enables full control over the technology, fortifying the company’s stake in the AI market.
Insights into SpeakGPT’s Innovative Features
The AI asset, SpeakGPT, flaunts robust features such as text-to-speech capability built from an open-source library, delivering cost benefits to the company, seamless integration with iOS and Android, and multilingual voice support to cater to a global user base. Furthermore, the users will be facilitated with voice command features for exporting materials in various formats, gearing towards productivity and conveniency.
Financial Terms and Closing Details of the Deal
In line with the purchase agreement, a payment of $60,000 USD will be made by the company. This payment includes $50,000 USD in cash and 300 company common shares, constituting 30% of the equity securities of the acquiring entity. The purchase is scheduled to be finalized on or around August 21, 2023.
In conclusion, this strategic acquisition shores up Generative AI’s arsenal in artificial intelligence technology. By adding SpeakGPT’s innovation to its portfolio, the company fortifies its foothold in AI and brings forth a promising virtual voice assistant product. This deal exemplifies Generative AI’s commitment to creating versatile, high-performance tools that redefine efficiency, productivity, and user experience.
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