Cortex Group Acquires Tesla Water’s Market-Leading Water Quality Monitoring Solution
CAPE TOWN, South Africa, 10 May 2019 – Cortex Group Acquires Tesla Water’s Market-Leading Water Quality Monitoring Solution
The Cortex Group (Pty) Ltd is an Artificial Intelligence (AI) focused holding company, building value in the Fourth Industrial Revolution (4.0 IR) Economy on a local, regional and global scale – home to the already successful Cortex Logic, an African Artificial Intelligence (AI) Software and Solutions company that helps businesses thrive in the Smart Technology Era. Cortex Logic, the AI Engine for Business, announced that its holding company, Cortex Group, is in the process of signing a definitive agreement to acquire Tesla Water’s market-leading Water Quality Monitoring Solution – which will be housed inside Water Mathematics, a stand-alone business that has been operating within Cortex Group since January 2019.
Since 2017, Tesla Water has been providing convenient, safe potable water to their clients, through its forward-thinking and electrocoagulation wastewater treatment technology systems. They mindfully operated their technologies, focusing on the critical need for alternative water supply options throughout Southern Africa, and used maximum energy efficiency and produced a minimal carbon footprint throughout. Since its inception, Tesla Water provided large scale solutions to industrial, governmental, and domestic household sectors.
Mr Terry Booysen, CEO of Tesla Water said, “Tesla Water is divesting from its Water Quality Monitoring business, Smart Water Pro, to focus its efforts on the sale of water. The acquisition will allow the company to not only further extend its ability to provide its customers with solutions that meet their demand for AI use cases, but will also address the increased demand by water users to (1) have an independent party monitor the quality of the water being provided, (2) to track the efficiency of their water treatment systems and (3) to provide reporting required by regulations”.
This acquisition strengthens Cortex Group’s portfolio that provides predictive analytics across multiple verticals. It also provides a proven and trusted AI-enabled Internet of Things (IoT) platform – one that enhances and extends the security of data at the heart of the digital initiatives of today and tomorrow, including the Internet of Things.
Dr Jacques Ludik, Founder / Group CEO of Cortex Group and Managing Director of Cortex Logic said, “This acquisition is an excellent complement to our expertise in both AI and intelligent-edge hardware and will extend our ability to meet the evolving needs of our customers globally – allowing us to accelerate our own growth, in parallel. Based on the pioneering work conducted by Tesla Water, predictive analytics and deep machine learning within the Water Vertical currently holds a strong position within the market – and we will offer a wider range of use cases. The acquisition brings with it exceptional talent and offers us the ability to develop even more comprehensive solutions for our clients”.
Additional information about the acquisition will be released once the transaction is closed.
About Cortex Group
The Cortex Group (Pty) Ltd is an Artificial Intelligence (AI) focused holding company, creating value in the Fourth Industrial Revolution (4.0 IR) economy on a local, regional and global scale. We work across multiple business and industry domains, developing cutting-edge intelligent systems and AI-driven companies / platforms, that leverage our unique mix of intellectual property, access to funding, technology, people, partners, and community. The Cortex Group currently consists of five divisions, each focusing on key parts of the Artificial Intelligence Ecosystem: Asset Management, Health, Ventures, Labs, and as well as the already successful Cortex Logic. Our Cortex Ventures Click-2-Pitch Challenge is now open to any African-based start-up or scale-up focusing on AI and seeking seed or growth stage funding. Learn More: www.cortexgroup.ai
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