Nexscient to Acquire Flipside AI in Strategic Expansion

Nexscient, Inc., a key player in AI applications, has signed a non-binding Letter of Intent to acquire Flipside AI. This acquisition will enable Nexscient to enhance its data labeling and annotation capabilities, crucial for AI data training, by acquiring nearly all of Flipside's operating assets. The deal, valued at approximately $5.94 million, involves cash, convertible debenture, and Nexscient stock.

Flipside's CEO, Anthony De Luna, will continue as the subsidiary's leader, joining Nexscient's Board. The transaction aligns with Nexscient's strategy to expand its global AI-powered platforms and services. Flipside's established operations in Southeast Asia and its $9.2 million revenue over four years will support Nexscient's international growth.

The acquisition comes amid significant growth in the AI data training and annotation tools markets, underlining the increasing need for high-quality data in AI development.