AcquisitionsApr 28, 2026, 09:01 AM
VISM to Acquire ConnexUS AI, License RAGböx; Paul Taylor CEO
AI Summary
Visium Technologies announced a non-binding Letter of Intent to acquire ConnexUS AI and secure a worldwide commercial license to the RAGböx.co platform. This transaction aims to reposition Visium as a public-market vehicle for governed, enterprise-grade agentic AI, separating its legacy operations. Upon closing, Paul Taylor will assume the roles of Chairman and CEO, with Cheddie Rai as CTO/COO and Mark Lucky continuing as CFO.
Key Highlights
- VISM to acquire 100% of ConnexUS AI equity for nominal cash plus assumption of $350,000 in convertible notes.
- Secures worldwide commercial license to the RAGböx.co platform.
- Company intends to separate its legacy operating activities from the post-closing public company.
- Paul Taylor to assume roles of Chairman and CEO; Cheddie Rai to join as CTO and COO.
- ConnexUS AI generates approximately $374,000 in annual recurring revenue from 14 paying customers.
- Under RAGböx License, VISM retains 40% of monthly Net Operating Income (NOI).
- Transaction is targeting closing in Q2 2026.
- Targets enterprise AI market estimated at over $5 billion in 2026, with >50% year-over-year growth.