BackIntel acquires Canada’s CognoVision
Intel acquires Canada’s CognoVision
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New York: Intel Corporation has acquired Canada-based start-up CognoVision for an undisclosed amount, the latest in a series of aggressive takeover deals by the multinational computer chip-maker.
“Intel Corporation has acquired CognoVision," MaRS Discovery District, a Toronto-based research centre that counts CognoVision amongs its clients, said in a statement yesterday.
Intel has a significant presence in India and employs about 1,110 people. The company announced in June that it will increase its staff strength to 3,000 people by 2005.
The CognoVision platform helps retailers and digital signage networks measure the effectiveness of in-store marketing and develop deeper insights into shopper behaviour.
However, the company has not disclosed the financial terms of the deal.
CognoVision said it has been working with MaRS to develop the company’s product and business strategy since 2006.
“We’re grateful for the work that MaRS did over the years to help us move CognoVision from a concept to a rapidly growing business. The MaRS team have been a valuable extension of our own team and an integral part of our success," CognoVision co-founder Haroon Mirza said.
Intel has acquired four companies since August this year, out of which the company concluded three buyout deals in the same month.
In August, the chip-maker said it would buy security software-maker McAfee for $7.7 billion and would pay $1.4 billion for German chip-maker Infineon. In the same month, Intel snapped up Texas Instruments’ cable modem product line for an undisclosed amount.
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