Semiconductor technology manufacturer Intel agreed on Monday to acquire US-based vision processing technology producer Movidius for an undisclosed amount, providing an exit to industrial product maker Robert Bosch.
Movidius builds programmable, ultra-low power vision processing units that are used to help power robotics, wearable devices, augmented and virtual reality and smart security systems. Its technology will be used to enhance RealSense, Intel’s depth-sensing camera platform.
Josh Walden, senior vice-president and general manager of Intel’s New Technology Group, said in a blog post: “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 optimises, enhances and brings RealSense capabilities to fruition.”
Movidius had raised approximately $86.5m in funding, closing a $40m series E round featuring Bosch’s corporate venturing unit, Robert Bosch Venture Capital, at a reported $220m to $250m valuation in April 2015.
The series E round also featured photovoltaic and lens technology provider Sunny Optical Technology, financial services firm Allied Irish Banks’ AIB Seed Capital Fund, Summit Bridge Capital, Arch Venture Capital Partners, Atlantic Bridge Capital, Capital-E and DFJ Esprit.
Bosch had co-led the company’s $16m series D round in 2013 with Atlantic Bridge and DFJ Esprit, investing alongside backers including AIB Seed Capital Fund and Capital-E. Past investors include Celtic House Venture Partners and Emertec Gestion.