| Work Detail |
Movidius makes computer vision hardware which has applications in drone technology Dublin-based chip design company Movidius has been acquired by tech giant Intel in a multi-million euro deal. Movidius makes computer vision hardware which has applications in drone and camera technology, and lists Google and Lenovo among its blue-chip clients. The price paid by Intel was not disclosed but a fundraising last year valued the Irish company at about €250 million. The firm’s original include Atlantic Bridge Capital, DFJ Esprit, Robert Bosch Venture Capital and the AIB Seed Capital Fund. The Irish taxpayer also invested an undisclosed amount through the China-Ireland Growth Technology Fund, which is funded by the Ireland Strategic Investment Fund. The company, which was co-founded by Sean Mitchell and David Moloney, now employs 140 staff across its global operations. It recently announced plans to create 100 additional jobs in Dublin after raising an additional $40 million from new investors. “We’re entering an era where devices must be smart and connected,” Intel senior vice president Josh Walden said in a blog post. “When a device is capable of understanding and responding to its environment, entirely new and unprecedented solutions present themselves,” he said. The company’s chief executive Remi El-Ouazzane said: “We’re on the cusp of big breakthroughs in artificial intelligence.” “In the years ahead, we’ll see new types of autonomous machines with more advanced capabilities as we make progress on one of the most difficult challenges of AI: getting our devices not just to see, but also to think,” he said. |
