US-based speech interface tool developer API.ai was acquired by internet technology provider Google on Monday, providing an exit to automotive manufacturer SAIC Motors, chipmaker Intel, communications equipment producer Motorola Solutions and electronics manufacturer Alpine Electronics.
Founded in 2012 as Speaktoit, API.ai provides technology that enables developers to integrate voice command capabilities into their software and hardware products.
Financial terms of the deal have not been disclosed. The acquisition will enable API.ai to accelerate development of its offering by relying on the expertise and infrastructure of its new parent company.
API.ai had secured $6.3m in funding, according to deals database Pitchbook. Intel Capital, the corporate venturing arm of Intel, first invested in a $500,000 seed round of undisclosed in 2012, before returning to support a $2.6m round in 2014.
Intel Capital also took part in a $3m funding round in August 2015, investing together with corporate venturing units Alpine Technology Fund, SAIC Capital and Motorola Solutions Venture Capital.
Ilya Gelfenbeyn, chief executive of API.ai, said: “As we start this next chapter, we want to express how truly grateful we are to our customers, developers, partners, employees, advisors and investors.
“We cannot wait to continue working with you and could not have gotten to this point without your support. We cannot thank you enough.”