IQ Engines, a Berkeley, CA-based developer of image recognition technology, been acquired by Yahoo! (Nasdaq: YHOO)
The amount of the deal was not disclosed.
IQ Engines’ people are joining the Flickr team bringing their technology to its photo collection and mobile apps.
Led by Gerry Pesavento, CEO, the company developed an image recognition engine that enables retailers, handset manufacturers, wireless carriers, and application developers to build visual search, image labeling, and augmented reality applications for mobile phones.
IQ Engines is no longer registering new users and existing accounts will be disabled and all training and query data will be deleted after 30 days.
The company received $4.8m in venture capital by Third Point Ventures and Motorola Solutions Venture Capital, among others, in two rounds:
25/06/2012: IQ Engines Raises $3.8M in Series B Funding
23/06/2010: IQ Engines Secures $1M in Series A Financing