JAV Field Service Management (FSM) solutions developer ServicePower has acquired Lithuanian artificial intelligence technology startup Inveniam, which develops computer vision solutions for telecommunications and energy infrastructure and work monitoring.
The deal, the value of which was not disclosed, will strengthen automation capabilities and open up new international markets for technology developers, Inveniam said on Thursday.
It is announced that the technologies developed by Inveniam will be integrated into the US company's platform to automate data collection on the work of field engineers and generate real-time quality reports on the work performed.
Inveniam founder and CEO Ahmed Ghorbal will lead the company for another three years and promises that the startup will continue to develop its operations in Lithuania.
"Lithuania has provided us with access to high-level technology specialists and a favorable innovation environment. We plan to continue investing in local talent and ensure that the country's role in creating advanced solutions continues to grow," A. Ghorbal said in a statement.
Inveniam was founded in 2018 in France and Lithuania.
