LMI buys FringeAI

LMI Technologies has purchased FringeAI, a US-based AI and IIoT / 5G inspection company. The company offers a software suite that leverages integrated deep learning, dedicated edge devices, and IIoT / 5G connected cloud services to deliver AI-based solutions for many industries. The company will be integrated into the LMI group of companies, with FringeAI forming a new AI Solutions group.

TKH Group N.V., shareholder of the LMI group of companies, is financing the transaction from available funds and expects the takeover to have a positive effect on earnings per share in 2021. The acquisition of FringeAI complements the existing LMI portfolio of 3D sensors, acceleration systems and web-based inspection software with AI-controlled inspection capabilities. The result is a complete, factory-integrated package that offers high-performance, cost-effective, AI-based machine vision inspection for a wide variety of applications.