Semiconductor maker Intel agreed on Monday to acquire Germany-based unmanned aerial vehicle (UAV) producer Ascending Technologies, giving an exit to its own corporate venturing unit, Intel Capital.
Founded in 2007, Ascending Technologies manufactures UAVs, better known as drones, and Intel is buying the company to secure its drone auto-pilot software and algorithms. The sum Intel will pay has not been disclosed.
Intel Capital became the company’s first external investor when it provided an undisclosed amount of funding in January 2015 as part of a collaboration agreement to develop collision avoidance technology for drones that could be incorporated into Intel’s RealSense drone depth-sensing technology.
Ascending Technologies will continue to serve its existing customers post-acquisition, while its technology and expertise will be used by Intel to strengthen RealSense as it looks to supply the system to operators in the drone industry.