Mustek, a leading technology company, has announced a significant expansion into the artificial intelligence (AI) sector with the acquisition of a 51% stake in Business AI. Business AI is a company that specializes in building a B2B marketplace portal, connecting enterprises with trusted AI vendors, platforms, and solution providers.
The Business AI platform is designed to ensure the secure adoption of AI solutions by enterprises. It acts as a trusted gateway, conducting quality, relevance, and security checks for all listed products and services. By connecting businesses with vetted AI providers, the platform facilitates safe and reliable AI adoption.
Mustek's move into AI is driven by the growing demand for AI solutions in the enterprise sector. AI has become a top IT investment priority, with companies focusing on measurable outcomes in areas such as analytics, automation, and cybersecurity. By acquiring a stake in Business AI, Mustek aims to capture growth in AI-enabled hardware, software, and services.
This acquisition marks a significant shift for Mustek, as the company looks to expand beyond its traditional distribution business. With a growing emphasis on AI, Mustek is positioning itself to play a leading role in shaping the region's AI ecosystem.
In recent financial results, Mustek reported a 15% revenue decline to R7.18 billion. However, the company saw an improvement in profitability, with basic earnings per share nearly doubling to 71.71 cents. The investment in Business AI signals Mustek's intent to drive growth and innovation in the AI space.
