Intel Buys Computer Vision Specialist Itseez
27 May 2016 - 4:27AM
Dow Jones News
By Don Clark
Intel Corp., moving to bolster its technology for use in cars
and other new markets for the company, said it is acquiring a
Russian company called Itseez that specializes in computer
vision.
Financial terms weren't disclosed.
Intel, long known for chips used in personal computers, is
reacting to the downturn in the PC business by emphasizing markets
that include the Internet of Things, or IoT -- a catchall term for
embedding sensing, computing and communication capabilities in
everyday products, including wearable devices, home-automation gear
and in-store signage.
Cars are one of the biggest potential IoT markets, driven by the
desire to improve assisted driving technology and eventually
self-driving models. Rivals such as NXP Semiconductors NV and
Nvidia Corp. are targeting those applications with chips to help
interpret data from cameras on cars.
Itseez, a closely held company founded in 2005, said it has
developed software and services for driver-assistance systems to
help warn of possible collisions, improve driver awareness and
simplify driving. Its technology is used in other products such as
security systems, Intel said.
"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," Douglas Davis, a senior vice president
who leads Intel's IoT efforts, wrote in a blog post.
The announcement comes as Intel is going through a major
restructuring, including plans to shed 12,000 employees, as well as
management changes. Mr. Davis plans to retire at the end of the
year after 32 years at the company.
Write to Don Clark at don.clark@wsj.com
(END) Dow Jones Newswires
May 26, 2016 14:12 ET (18:12 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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