Intel (Nasdaq: INTC) acquired Movidius, a Palo Alto, CA-based provider of visual sensing solutions for the Internet of Things.
The amount of the deal was not disclosed.
The acquisition will enable Intel to add Movidius technology for drones, robots, virtual reality headsets, etc., to its existing assets and increase its potential to provide computer vision and deep learning solutions from the device to the cloud.
Led by Remi El-Ouazzane, CEO, Movidius provides ultra-low power, high performance Vision Processing Unit (VPU) and advanced algorithms for drive machine vision applications for such next generation devices in the fields of Robotics, Augmented & Virtual Reality, Wearables and Smart Security.
With additional offices in Dublin, Ireland, and Timisoara, Romania, the company was backed by Enterprise Equity Venture Capital, ARCH Venture Partners, Atlantic Bridge, Capital-E, Draper Esprit, Robert Bosch Venture Capital, Summit Bridge Capital and Sunny Optical Technology Group.
FinSMEs
06/09/2016