In an unrevealed deal price, a computer vision and machine learning startup, Itseez was bought by Intel to improve better navigation for self-driving cars.
The startup's products showcase a series of algorithms for cars they claimed as "advanced driver assistance systems," that allows car components to identify pedestrians and traffic lights and notify about potential accidents. They were founded in 2005 in San Francisco California.
Yogitech, another internet of Things-related startup was also acquired by Intel a month ago. Based in Italy, Yogitech works on functional safety for semiconductors (ensuring microchips running on autonomous vehicles)
And just last year, Intel also acquired Lantiq which manufactured chips for intelligent objects. It is known that Intel already makes chips, software and a development tool for self-driving cars.
"Itseez will become a key ingredient for Intel's Internet of Things Group roadmap, and will help Intel's customers create innovative deep-learning-based [computer vision] applications like autonomous driving, digital security and surveillance, and industrial application." said Doug Davis, general manager of its Internet of things Group (IOTG) and Intel senior vice president in an Intel announcement.
The startup (Itseez) has also supplemented programming projects for robotics, mobile phones, surveillance and sports analytics.
Intel has stated that its data center and Internet of Things positions, which comprise of 40 percent of its total income, are already its "primary growth engines," and have assisted their business whether a decrease in the PC market by generating a total of $2.2 billion in earning growth last year. The purchase is part of Intel's strategic move which was announced last month, from PC chip manufacturer to cloud computing, the internet of things, and data analysis from those devices.
However, the decision has already come up at a price. Intel is letting go of 11 percent of its workforce, or 12,000 workers. It is part of Intel's "Restructuring to accelerate its transformation." Says Intel CEO Brian Crzanich.
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