Intel Corporation (Nasdaq: INTC) is in advanced talks to buy InVision Biometrics Ltd. for $50-60 million. Intel is looking to acquire applications which provide hands-free 3D sensors.
InVision has raised $2 million since its founding. If the company is acquired, this will have been an extremely successful exit for its investors. InVision CEO Sagi Ben Moshe declined to comment.
InVision was founded in 2007 by Ben Moshe and Prof. Ron Kimmel. Employing 3D reconstruction technology developed at the Technion Israel Institute of Technology, InVision's processor can recognize human movement, interpret it and adapt it to InVision's digital space. The company has no revenue yet, and the large amount Intel is offering proves how much it values InVision's technology. The acquisition by Microsoft of Connect's Xbox console, which also recognizes hands-free human movement, is another example of the significance of this type of application.
Published by Globes [online], Israel business news - www.globes-online.com - on October 30, 2011
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