CAPE TOWN – South Africa’s Cortex Logic, the AI Engine for Business, announced this week that its holding company, Cortex Group, was in the process of signing a definitive agreement to acquire Tesla Water’s market-leading Water Quality Monitoring Solution.
The venture will be housed inside Water Mathematics, a stand-alone business that has been operating within Cortex Group since January 2019.
Cortex Group 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 Software and Solutions company that helps businesses thrive in the Smart Technology Era.
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.
“Tesla Water is divesting from its Water Quality Monitoring business, Smart Water Pro, to focus its efforts on the sale of water,” said Tesla Water CEO, Terry Booysen.
“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”.
The acquisition is expected to strengthen 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.
“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,” said Dr Jacques Ludik, Founder and Group CEO of Cortex Group, who is also the Managing Director of Cortex Logic.
“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”.