Intel to acquire computer vision company Itseez Inc

Brittany A. Roston - May 26, 2016, 6:22 pm CDT
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Intel to acquire computer vision company Itseez Inc

Intel has agreed to acquire computer vision company Itseez Inc, the company has announced, for its computer vision technology in a bid to bolster Intel’s own Internet of Things and automotive portfolio. Itseez, says Intel, will soon be a ‘key ingredient’ in the company’s Internet of Things Group, helping it further its focus away from the PC and toward the growing number of connected smart gadgets.

Intel didn’t state how much or under what terms it is acquiring the Russian company, but made it clear the business move is being done to further its own position within the IoT industry. Itseez tech will aid the company in building up its automotive portfolio, specifically the tech needed for self-driving vehicles.

“One of the key technologies necessary to support this capability is computer vision,” says Intel IoT SVP Doug Davis. “That’s why,” he added, Intel is going to acquire Itseez and, subsequently, the company’s computer vision algorithms and other developments. “This acquisition furthers Intel’s efforts to win in IoT market segments like automotive and video, where the ability to electronically perceive and understand images paves the way for innovation and opportunity.”

Intel says Itseez’s tech will help its own customers make computer vision applications based on deep learning, which will find use in surveillance and security, as well as autonomous vehicles. The acquisition comes at a time when Intel, feeling the crunch from the downturned PC market, has set its sights elsewhere to make up for lost ground.

SOURCE: Intel


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