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LMI Technologies acquires AI & IIoT/5G Inspection Company FringeAI

Updated: Jun 21, 2021

Our partner LMI Technologies (LMI), the global leader in 3D inline scanning and inspection, is pleased to announce the acquisition of FringeAI, an innovative AI and IIoT/5G inspection company based in Boston, Massachusetts. The company delivers a software suite that leverages integrated deep learning, dedicated edge devices, and IIoT/5G connected cloud services, to deliver AI-based solutions across many markets. The company will be integrated into the LMI group of companies with FringeAI forming a new AI Solutions group. TKH Group N.V., shareholder of the LMI Group of companies, finances the transaction from existing resources and expects that the acquisition will have a positive impact on earnings per share in 2021.

Many manufacturing companies suffer from low yield, high operating expense, and now pandemic risk exposure. Traditional inspection methods such as rule-based computer vision and manual visual inspection are unable to deliver the precision, scalability, and cost-efficiency required to solve today’s quality assurance challenges. Many customers believe that AI can help, but do not have the knowledge or resources to tackle implementation.

To meet these challenges head on, FringeAI offers a complete AI/IIoT solution package that includes optimized inspection pipelines using convolutional neural networks for fast and accurate image inspection, low cost hardware for edge deployment, and cloud services for ongoing tuning and support.

The acquisition of FringeAI adds AI-driven inspection capability to LMIs’ existing portfolio of 3D sensor hardware, edge accelerators, and web-based inspection software––creating a complete, factory-integrated package offering high performance, cost-efficient, AI-based vision inspection for a wide range of applications.

LMI Technologies works to advance 3D measurement with smart sensor technology. The award-winning, FactorySmart® sensors improve the quality and efficiency of factory production by providing fast, accurate, and reliable inspection that leverages smart 3D technologies. Unlike contact based measurement or 2D vision, the non-contact solutions add 3D shape information that is critical to achieving 100% quality control.

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