Intel Buys Computer Vision Specialist Itseez

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 [e-mail]

(END) Dow Jones Newswires

May 26, 2016 14:12 ET (18:12 GMT)

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