Being AI Limited Announces $7 3 Million Conditional Investment in Spectrum Consulting Limited

Being AI Limited (NZX: BAI) has entered a conditional joint venture with Spectrum Consulting Limited to acquire 100% of Spectrum's shares for NZ$6.6 million. BAI will invest NZ$3.3 million for a 50% stake in Spectrum and provide up to NZ$4 million over 24 months to support the "Lantern AI" initiative developed by Spectrum.

Spectrum has been providing New Zealand with mission-critical data infrastructure services for over 20 years. They offer cloud-based services, network solutions, AI solutions, and proactive data security. Spectrum is an IBM Gold and Red Hat Partner and has created Lantern AI, the world’s first safe, secure, sovereign AI cloud platform, ensuring data management remains jurisdictionally sovereign to New Zealand.

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