TLDR
Alphabet (GOOG) stock closes 0.96% higher at $340.16, then adds 0.13% after hours.
AIBotics acquires NovaCore assets to expand its AI mapping operations in Jamaica.
NovaCore’s assets include 10 service robots, six drones and Google mapping tools.
AIBotics outlines a $3 million earn-out tied to four revenue growth milestones.
NovaCore plans wider LiDAR mapping, drone services and technical skills training.
Alphabet (GOOG) stock gained 0.96% to close at $340.16 on Monday, October 19, before rising 0.13% to $340.60 after hours. Meanwhile, AIBotics completed its acquisition of NovaCore Labs assets, expanding its AI mapping and robotics operations in Jamaica. The transaction includes equipment previously used in Google Street View mapping projects and supports broader Caribbean technology expansion.
Alphabet Inc., GOOG
AIBotics Acquires NovaCore Assets to Expand Caribbean Operations
AIBotics acquired NovaCore Labs operating assets from PlayJamaica Limited through an asset purchase agreement. The acquisition strengthens its presence in Jamaica and establishes a platform for regional technology services. Furthermore, the company plans to expand operations across the Caribbean Community, known as CARICOM.
The acquired assets include 10 service robots, six commercial drones, and three field generators. AIBotics also obtained Google Street View mapping equipment, a dedicated mapping vehicle, and proprietary operating methods. These resources support commercial mapping, robotics, drone services, and digital infrastructure projects.
The Caribbean Economic Outlook 2026 estimates regional economic output at approximately $420 billion. It also projects average real GDP growth of 3.4% across major regional economies. Consequently, AIBotics plans to pursue commercial opportunities across public institutions, private businesses, and technology services.
NovaCore Targets AI Mapping and Drone Service Growth
NovaCore previously participated in Jamaica’s Google Street View mapping initiative through its geospatial technology operations. The company now plans to expand those capabilities using artificial intelligence and LiDAR technology. Its proposed services include infrastructure analysis, surface classification, and digital asset management.
NovaCore intends to expand commercial drone services across selected industries and institutional markets. The acquired equipment and software will support field operations, automation projects, and customer deployments. Additionally, the company plans to develop its technical laboratories for demonstrations and operational support.
NovaCore also maintains relationships with the University of Technology and the University of the West Indies Global Campus. These partnerships support technical training, demonstrations, apprenticeships, and workforce development programs. The company plans to strengthen these initiatives while expanding regional expertise in robotics and mapping technology.
AIBotics Outlines Acquisition Terms and Revenue Targets
AIBotics issued 22,500 Series B preferred shares with an aggregate stated value of $225,000 for the acquired assets. The agreement also includes potential additional consideration worth up to $3 million over four years. However, NovaCore must achieve specified cumulative revenue milestones to qualify for those payments.
The revenue targets stand at $500,000, $1.5 million, $3 million, and $5 million. Each achieved milestone triggers $750,000 in additional preferred-stock consideration under the agreement. Meanwhile, Gregory Moore will lead the acquired operations as president of the operating subsidiary.
AIBotics and Moore also plan a budget targeting $1 million in capital deployment over 12 months. The spending plan will support operational expansion, technical infrastructure, and commercial service development. Although NovaCore’s mapping history involves Google Street View, the announcement does not establish a new Alphabet partnership.
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