South Korean AI software developer Lunit has secured initial approval from the High Court of New Zealand for its bid to acquire Volpara Health Technologies.
If the acquisition is endorsed by shareholders in an upcoming meeting on April 12, Lunit will proceed to acquire the entire shareholding at the agreed price, amounting to $292 million Australian dollars ($193 million U.S.), the company said. The finalization of the deal would be expected by May 2024, Lunit added.
Based in New Zealand, Volpara is perhaps best known for its AI-based breast density assessment software.
