RemSense Technologies Ltd (ASX:REM) has agreed to acquire the Virtual Plant background intellectual property (IP) from Woodside Energy Technologies Pty Ltd, an important step in delivering its enterprise-grade, scalable, Digital Twin Australia solution.
The company will acquire the IP for a total consideration of A$400,000, which is due to be settled this Wednesday, and shares are 16.67% higher to $0.21.
“Ensuring the IP is owned by RemSense is an important step for RemSense in establishing our enterprise-grade, scalable digital twin solution,” said MD Steve Brown.
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