A planned acquisition of Jamaican technology company NovaCore Labs by U.S. robotics specialist AIBotics has entered an extended negotiation phase, with the deal closing pushed from the end of 2025 to the second quarter of 2026 as parties work through final terms, according to NovaCore founder and CEO Gregory Moore.
Negotiations for the transaction have been ongoing since last year, and Hurricane Melissa, which struck Jamaica, forced a temporary pause in discussions as both stakeholders evaluated post-storm stability in the local business and market landscape. While the two sides have signed a non-binding letter of intent (LOI) outlining core acquisition criteria, Moore emphasized that the agreement remains preliminary, and no final deal has been reached. A LOI, which marks serious intent to negotiate, does not constitute a finalized acquisition and is still subject to standard closing conditions.
Founded by Moore, who transitioned the business from early gaming and virtual reality ventures to enterprise emerging tech before rebranding as NovaCore Labs, the company is a division of PlayJamaica Limited and an official Google partner. NovaCore has built its reputation delivering cloud infrastructure, immersive technology, AI-powered tools, geospatial mapping, and digital transformation solutions across Jamaica’s public sector, education, security, and tourism industries. Notable projects include Jamaica’s first Google Street View car, AI-powered simulation tools, and managed Google Cloud and Maps services.
Like many small regional technology firms, NovaCore has hit structural barriers to scaling: building global credibility and accessing sufficient growth capital locally have proven persistent challenges. Moore explained that the proposed acquisition is not an exit from Jamaica, but a strategic move to secure the resources needed to expand across the Caribbean. “It’s not that we’re abandoning our country. It’s just that, unfortunately, sometimes when you try to expand your business model, local options are not necessarily the best options,” he told reporters, noting that securing large-scale growth funding is often simpler through partnerships with larger international firms than via local capital markets.
Under the proposed framework, NovaCore will not be absorbed and dissolved into AIBotics. Moore will remain CEO of the Jamaican subsidiary, which will be integrated into AIBotics’ global corporate ecosystem to lead the firm’s regional expansion strategy across the Caribbean Community (Caricom). For AIBotics, an over-the-counter traded U.S. firm (ticker: AIBT) that specializes in AI-enabled robotics and intelligent automation solutions through global strategic partnerships, the acquisition creates a critical regional operating hub. The deal grants AIBotics access to NovaCore’s established local relationships, existing digital infrastructure capabilities, and a foothold to scale service robotics across Caricom markets.
Pilot deployments of AIBotics’ robotic solutions are already underway in Jamaica, in partnership with NovaCore. Current tests include autonomous cleaning robots at two major hotel chains and a robotic pilot with a leading national supermarket operator, with the companies already demonstrating the technology to prospective local partners and forging new commercial collaborations.
The push into service robotics aligns with a fast-growing global market shift, as labor shortages, demand for consistent service, and rising operational costs push businesses in hospitality, retail, and healthcare to adopt automation for routine tasks. Data from the International Federation of Robotics shows that global professional service robot sales rose 9% in 2024, with the professional cleaning robot segment jumping 34% to over 25,000 units sold. Hospitality robots remained one of the top categories, with global sales exceeding 42,000 units for the year. AIBotics’ core strategy focuses on deploying robotics across high-demand sectors including hospitality, retail, healthcare, commercial real estate, and public infrastructure, rather than just developing the technology in-house.
Moore stressed that robotics is only one component of the broader post-acquisition strategy. NovaCore will continue to advance its work in virtual reality, simulation, cloud infrastructure, and other emerging technology areas, with the acquisition providing capital to accelerate its existing innovation roadmap. “We are pretty much on the innovation, emerging technology aspect, the front runner for that area,” he said.
As negotiations continue, Moore noted that NovaCore is conducting a thorough review of all terms to protect the company and its local team, confirming that the deal could still fall through if terms do not align with the firm’s goals. The proposed transaction has already drawn high-level attention: Jamaican Prime Minister Andrew Holness has tested NovaCore’s AI-powered driving simulator and experienced its virtual reality crime-scene simulation at a local technology showcase, highlighting the company’s growing profile as a leader in Caribbean emerging tech.