British-based intellectual property business IP Group plc, which invests in technology companies, said on Wednesday that portfolio company Monolith is being acquired by US artificial intelligence (AI) cloud-computing firm CoreWeave Inc.
Monolith, in which IP Group has a 12.3% holding, is an artificial intelligence software provider to engineering teams that was spun out of Imperial College London.
No financial terms have been disclosed.
Greg Smith, chief executive of IP Group, said: "The sale of Monolith marks another positive exit from our deeptech portfolio.
"We're delighted with this outcome which follows the sales of Featurespace and Garrison from our deeptech portfolio."
