| Work Detail |
A funding round last year valued the chip designer at up to $250 million Intel has said its plans to buy Irish chip designer Movidius for an undisclosed sum in a move that will give it access to low-power high-performance platforms for accelerating computer vision applications. Dublin-based Movidius was established 10 years ago by David Maloney and Sean Mitchell. It makes computer vision hardware which has applications in drone and camera technology and lists Google and Lenovo among its blue-chip clients. Earlier this year, it reached a deal with Google to include its MA2450 chip in Google’s personal devices, including its latest virtual reality headset technology. The price paid by Intel was not disclosed but a fundraising last year valued the Irish company at about $250 million. Intel said the deal for Movidius gives it low-power, high-performance ‘System on a Chip’ platforms for accelerating computer vision applications. Additionally, this acquisition brings algorithms tuned for deep learning, depth processing, navigation and mapping, and natural interactions, as well as broad expertise in embedded computer vision and machine intelligence, commented Intel’s general manager of new technology Josh Walden. Movidius raised $40 million in cash last year from a number of investors including Summit Bridge Capital, the China-Ireland Growth Technology Fund co-managed by Atlantic Bridge Capital and WestSummit Capital, ARCH Venture Partners and DFJ Esprit. |
