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Audinate Group ( (AU:AD8) ) just unveiled an update.
Audinate Group Limited has announced its acquisition of Iris Studio Inc, a US-based leader in AI-powered, cloud-based camera control technology, for up to US$28 million. This acquisition strengthens Audinate’s video platform capabilities and aligns with its vision for interoperable AV device management, enhancing its position in key growth segments. The Iris platform, which is in the early stages of market launch, will benefit from Audinate’s investment to support development and scaling. The transaction is funded through existing cash reserves and share issuance, leaving Audinate with a strong balance sheet. This move is expected to provide significant value to AV professionals by integrating Iris’s remote production capabilities with Audinate’s Dante platform.
The most recent analyst rating on (AU:AD8) stock is a Buy with a A$12.00 price target. To see the full list of analyst forecasts on Audinate Group stock, see the AU:AD8 Stock Forecast page.
More about Audinate Group
Audinate Group Limited is a developer of the industry-leading Dante® media networking platform, which focuses on providing interoperable control and management solutions for audio-visual (AV) devices. The company serves various verticals, including corporate, entertainment, sports, government, houses of worship, and education.
Average Trading Volume: 248,956
Technical Sentiment Signal: Sell
Current Market Cap: A$576M
Learn more about AD8 stock on TipRanks’ Stock Analysis page.