What is going on with VMSI?
Vita Mobile Systems, Inc. (VMSI) stock surged today after the company announced the acquisition of My2Tum through a share exchange agreement. My2Tum is an Artificial Intelligence (AI) technology that allows users to find up-to-date health and safety information by location, complementing VMSI’s own geolocation-based social application platforms.
VMSI is a technology company focused on digital imaging in mobile devices, collection and management of big data and development of artificial intelligence. Shares of Vita Mobile increased 52.27% to $0.0067 as of Thursday at 11:05am.
What does this mean for Vita Mobile?
The addition of My2Tum and its proprietary software will be a huge boost for Vita Mobile, mainly due the company's geolocation software which matches the goal of VMSI to provide the most accurate location information for users and third-parties. The company disclosed that there would be strategic management changes as they incorporated My2Tum into VMSI.
“The significance of this acquisition is immense, and bringing on My2Tum is a huge step forward for VMSI,” stated Sean Guerrero, CEO of Vita Mobile Systems.
“The pandemic has made it clear that accurate and timely health and safety information for locations around the world is crucial for both business and personal needs. For example, businesses could leverage this data to better support their employees and deliver to their customers, and individuals would be able to travel anywhere in the world with the confidence and the assurance that is required to make their trip a successful one.”
The company announced it will launch its first My2Tum product in the fall of 2021.
