BMIT Technologies plc - Investment in EBO Ltd

On 4 December 2020, BMIT Technologies plc announced that it entered into a ‘Share Purchase and Subscription Agreement’ with Mr Wilfred Mallia and EBO Ltd for the purchase and acquisition by BMIT of a total of 101,471 shares in EBO for a consideration of €1.542 million.

EBO is a technology company focused on the provision of Artificial Intelligence solutions in the Healthcare, iGaming and Financial Services sectors. The company delivers its solutions through AI driven Virtual Agents in an omni-channel environment that allow more-personalised customer conversations, improving self-service, and offering predictive models to augment existing business processes. BMIT expects to accrue the benefit of participating in EBO’s growth and particularly the development of its core Intellectual Property in the AI space and also participate in any market growth EBO witnesses in its operational markets. This investment will also allow BMIT to actively participate in this innovation and automation space, as part of its stated strategic intent to further diversify its business and tap on new market opportunities.

BMIT also explained that the investment in EBO is expected to accelerate EBO’s growth trajectory, as well as enable the opening of new business verticals and territories in which BMIT has a key interest. In parallel, EBO’s fully-owned UK subsidiary – EBO.ai (UK) Ltd – will also seek to accelerate its growth through additional market development activities within the UK’s public (NHS) and private healthcare sectors in which EBO is already present. In this territory, EBO is an approved Crown Commercial Supplier.