Deal Rumoured to be Worth $400m In the Making For Dublin Based Chip Processing Company
Movidius, the Irish chip company founded by CEVA / Parthus Technologies colleagues Sean Mitchell and David Maloney, along with Valentin Muresan, is to be acquired by Intel in a financial deal rumoured to be in the region of $400million. The deal is expected to close by the end of 2016.
The company's core product, Myriad 2, a Vision Processor Unit (VPU) embraces a processing architecture designed specifically with large-scale numerical workloads in image and signal-processing in mind. According to the company, Myriad 2 meets the developers' needs in performance, programmability, and power for new and innovative embedded vision processing devices such as in wearable devices, robotics, or augmented & virtual reality headsets, all of which push enormous amounts of pixel processing to the network edge.
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GREEN BOX TOP RIGHT
Remi El-Ouazzane, CEO of Movidiu, said; "Our leading VPU platform for on-device vision processing combined with Intel's industry leading depth sensing solution, Intel's RealSense Technology, is a winning combination for autonomous machines that can see in 3D, understand their surroundings and navigate accordingly.
Today, we're working with customers like DJI, FLIR, Google and Lenovo to give sight to smart devices including drones, security cameras, and AR/VR headsets. When computers can see, they can become autonomous and that's just the beginning. But today's smart devices, while compelling, offer just a glimpse of what's to come. 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.
Movidius has been attacking this challenge at the device level - combining advanced algorithms with dedicated low-power hardware. At Intel, we'll be part of a team that is attacking this challenge from the cloud, through the network and on the device."
Josh Walden, Senior Vice President and General Manager of Intel’s New Technology Group, writes; "We’re entering an era where devices must be smart and connected. When a device is capable of understanding and responding to its environment, entirely new and unprecedented solutions present themselves.
As part of our RealSense™ vision and strategy, we built and acquired critical technologies to ensure our leadership in computer vision and perceptual computing. Simply put, computer vision enables machines to visually process and understand their surroundings. Cameras serve as the “eyes” of the device, the central processing unit is the “brain,” and a vision processor is the “visual cortex.” Upon integration, computer vision enables navigation and mapping, collision avoidance, tracking, object recognition, inspection analytics and more – capabilities that are extremely compelling in emerging markets.
With the introduction of RealSense™ depth-sensing cameras, we brought groundbreaking technology that allowed devices to “see” the world in three dimensions. To amplify this paradigm shift, we completed several acquisitions in machine learning, deep learning and cognitive computing to build a suite of capabilities that open an entirely new world of possibilities: from recognizing objects, to understanding scenes; from authentication to tracking and navigating. This said, as devices become smarter and more distributed, we recognize that specific System on a Chip (SoC) attributes will be paramount to giving human-like sight to the 50 billion connected devices that are projected by 2020.
With Movidius, Intel gains low-power, high-performance SoC 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. Movidius’ technology optimizes, enhances and brings RealSense™ capabilities to fruition.
We see massive potential for Movidius to accelerate our initiatives in new and emerging technologies. The ability to track, navigate, map and recognize both scenes and objects using Movidius’ low-power and high-performance SoCs opens opportunities in areas where heat, battery life and form factors are key. Specifically, we will look to deploy the technology across our efforts in augmented, virtual and merged reality (AR/VR/MR), drones, robotics, digital security cameras and beyond. Movidius’ market-leading family of computer vision SoCs complements Intel’s RealSense™ offerings in addition to our broader IP and product roadmap.
I’m excited to announce our acquisition of Movidius. Computer vision will trigger a Cambrian explosion of compute, with Intel at the forefront of this new wave of computing, enabled by RealSenses in conjunction with Movidius and our full suite of perceptual computing technologies."
Movidius is backed by Atlantic Bridge Capital, DFJ Esprit, Robert Bosch Venture Capital and, originally, the AIB Seed Capital Fund.
Brian Long Atlantic Bridge Ventures commented; "Our congratulations to Intel Corp on the announcement of the planned acquisition of Movidius, an Atlantic Bridge portfolio company. We are proud to have been lead investors in this truly remarkable company and we congratulate CEO Remi and founders Dave, Sean and the outstanding Movidius team for this achievement. It is emphatic recognition by one of the truly great technology companies, Intel Corporation."
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