intel negotiates $50m acquisition of invision biometrics
As soon as the acquisition is completed, dozens of Invision employees are expected to remain at Intel.
Invision Biometrics, a developer of 3D sensor pcb, detects facial and body movements and translates them into on-
Similar to Microsoft\'s popular Kinect technology, screen games move.
The merger with Invision will enable Intel to respond to Kintec, a PCB developed based on Israeli company Primesense.
Calcalist learned that the deal had entered a later stage.
Established in investment 2-
3 million, which means that if the deal is traded at $50 million, Invision\'s investors will earn 20 times more profits than they initially put in just four years later.
The main shareholders of the company include Technion Institute of Technology (14%)
Saji ben Moses, founder and CEO (36%).
Half of the acquisition will be paid in cash and the rest will be paid in Intel shares.
The Invision biometric technology is based on patents obtained from Technion. Company co-
Professor Ron Kimmel, founder, is a business partner of Terion founder Zaki Rakib.
Kimmel has a long history of patents in the field of image processing and serves as a consultant for several important roles in the field, such as Mediguide acquired by St.
Jude Medical sold it to Google for $0. 283 billion, and Quicksee sold it to Google for about $10 million.
Market sources linked Intel\'s acquisition of Invidion to Intel Venture Capital\'s investment in Israeli startup Omek Interactive last summer to develop body motion detection technology for gaming purposes.
Intel Capital completed a $7 million round of financing to develop the technology of Omek Interactive, as well as integration in the fields of television, digital broadcasting and computer.
Intel appears to be planning to respond to Microsoft\'s blockbuster Kinect, which has sold 8 million units since it went public and increased sales by 30% in the second quarter of this year.
Israel has become an important exporter of 3D technology, and a large number of companies have been robbed of shelves by international giants such as 3DV and extreme reality acquired by Microsoft two years ago, acquired by Texas Instruments.
Intel and Invision are not responding.
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