AIBotics Acquires NovaCore Labs Assets to Expand AI Robotics and Automation Across the Caribbean

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AIBotics, Inc. ("AIBotics" or the "Company"), a global technology company building a platform around AI-enabled robotics, autonomous systems and intelligent automation, announced the completion of its acquisition of the operating assets associated with NovaCore Labs ("NovaCore") from PlayJamaica Limited under an Asset Sale and Purchase Agreement.

The transaction provides AIBotics with a tangible operating platform to complete its expansion plans in Jamaica and the CARICOM. The Caribbean Economic Outlook 2026 projects a combined regional GDP of approximately US$420 billion with an average real GDP growth rate of 3.4% across major economies.

The acquired assets include 10 service robots, six commercial drones, three field generators, Google Street View mapping equipment and a dedicated mapping vehicle, together with the NovaCore brand and proprietary operating methodologies.

The acquisition expands AIBotics’ technology platform and operating presence in Jamaica while creating a foundation for broader growth across the CARICOM region. Through NovaCore, AIBotics intends to build on established capabilities in AI-enabled mapping and geospatial services, drone operations, automation, digital infrastructure, institutional technology programs and workforce development, with the goal of creating a scalable regional technology platform.

Ben Kaplan, Chief Executive Officer of AIBotics, commented, "NovaCore has established a presence in Jamaica through Google-related mapping initiatives, commercial technology deployments and relationships with leading academic and institutional organizations. Those capabilities can provide a practical platform for converting technology into recurring commercial activity rather than building a Caribbean operation from the ground up."

Following the acquisition, NovaCore intends to prioritize the expansion of business lines that present near-term revenue opportunities in Jamaica and the broader region. These initiatives include:

• AI, LiDAR and geospatial services: Building on NovaCore's mapping work, the business plans to expand into AI- and LiDAR-enabled asset management, surface classification and related geospatial services for public- and private-sector applications.
• Drone services: NovaCore intends to broaden commercial drone operations across selected public- and private-sector verticals, supported by acquired drone systems, field equipment, operating methodologies and drone-management software.
• Automation and robotics: The acquired asset package includes robotics equipment, operating methodologies, software and customer relationships that can support continued automation deployments across commercial environments.
• Education and workforce development: NovaCore intends to expand institutional programs with the University of the West Indies Global Campus and the University of Technology, including technical demonstrations, training, apprenticeship and internship initiatives designed to build local technical capacity.
• Technical infrastructure: NovaCore intends to expand its technical laboratory capabilities to support demonstrations, deployments, customer workflows and the development of a skilled regional workforce.
  
  

Under the Asset Sale and Purchase Agreement, AIBotics acquired the specified NovaCore assets from PlayJamaica Limited in exchange for 22,500 shares of AIBotics Series B Preferred Stock with an aggregate stated value of $225,000.

The agreement also provides for an earn-out of up to $3.0 million in additional Series B Preferred Stock over four years if the acquired business achieves specified cumulative gross-revenue milestones of $500,000, $1.5 million, $3.0 million and $5.0 million. Each revenue milestone corresponds to $750,000 of additional preferred-stock consideration.

Under the terms of the agreement, Gregory Moore is to lead the acquired business as President of the operating subsidiary. AIBotics and Moore are also to develop a budget targeting $1.0 million of capital deployment over a 12-month period.

Gregory Moore, co-founder of NovaCore Labs, commented, "This transaction gives NovaCore the opportunity to accelerate the work already underway in mapping, drones, automation, AI and institutional technology programs. Our focus now is execution - expanding services, deepening our technical capabilities, building revenue and creating solutions that can be deployed across Jamaica and the wider Caribbean."

Mr. Kaplan added, “NovaCore represents an important step in AIBotics’ evolution into a broader international technology platform. By expanding our presence in Jamaica and the Caribbean, we believe we can build meaningful businesses across AI, robotics, drones, mapping and automation while creating a foundation for long-term regional growth.”

NovaCore previously participated in Jamaica's Google Street View mapping initiative, providing a foundation for broader geospatial and digital-infrastructure applications. Management now intends to build on that work by incorporating AI and LiDAR technologies into services designed for asset management, surface classification, infrastructure analysis and other data-driven applications.

NovaCore also maintains relationships with the University of Technology and the University of the West Indies Global Campus. The Company intends to use those relationships to support training, demonstrations, workforce development and selected immersive-learning and simulation initiatives, while expanding the technical infrastructure available for client deployments and operational support.