Novacore Labs in Acquisition Talks

Jamaica-based NovaCore Labs is in serious acquisition discussions with U.S. robotics company AIBotics, though the deal remains subject to final terms. The proposed acquisition, announced via a letter of intent (LOI), would integrate NovaCore’s expertise in AI tools, geospatial mapping, and digital transformation into AIBotics’ global operations, with a revised closing timeline now set for the second quarter of 2026. NovaCore, founded by Gregory Moore, began in gaming before evolving into a Google partner focused on immersive and emerging technologies. The company has delivered projects across public sector, education, security, and tourism, including Jamaica’s first Google Street View car and AI-powered simulators. Moore noted that while local growth has faced challenges—such as limited funding and credibility hurdles—the acquisition would provide capital and corporate backing to expand across the Caribbean. Negotiations, ongoing since last year, were briefly paused due to Hurricane Melissa, which delayed assessments of the local market’s stability. Moore clarified that NovaCore would not dissolve but instead operate as a subsidiary under AIBotics, with him retaining his CEO role. The Jamaican team would drive regional strategy, leveraging NovaCore’s existing partnerships and digital infrastructure to support AIBotics’ expansion into Caricom markets. AIBotics, an over-the-counter U.S. company (ticker AIBT), specializes in AI-enabled robotics and automation. The firm views NovaCore as a key Caribbean platform, offering local expertise and a foundation for broader regional deployments. Current pilot projects in Jamaica, including a supermarket robotics trial, demonstrate the integration’s early-stage applications. Moore emphasized the acquisition is not an exit from Jamaica but a strategic move to scale operations, citing local funding limitations as a primary motivator. ‘We’re not abandoning our country,’ he stated, adding that overseas partnerships sometimes offer faster access to necessary resources. The deal would position NovaCore as a regional hub within AIBotics’ global network while preserving its Jamaican identity and leadership.