MTS AI to acquire VisionLabs

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VisionLabs has been acquired by Intema, AI subsidiary of MTS AI for around $100 mln, becoming the largest portfolio company of the Intema Group.

MTS AI and VisionLabs: in quest of AI innovations

Intema, the AI subsidiary of MTS AI, has acquired VisionLabs for around $100 mln. VisionLabs is a global leader in CV and machine learning spaces. It has implemented more than 500 projects in the CV field in 37 countries of the world for more than 270 clients from the financial, telecommunications, retail, transport and energy sectors. More than 1.7 million cameras worldwide use VisionLabs software.

VisionLabs will become the largest portfolio company of the Intema group, formed by MTS AI as a new brand. As the result of the deal, Intema will acquire the majority ownership from the VisionLabs founders, 51.77% of shares, as well as 25.07% of shares from Digital Assets LLC and 23.16% of shares from Sistema Venture Capital Fund 1 LLC.

Alexander Khanin will remain Chairman of the VisionLabs Directors Board. Alexander is sure that artificial intelligence technology will become a key driver for business and social development over the next few years. Intema seeks to bridge businesses and developers of AI technologies and lend them support in developing their innovative AI products. With Intema and VisionLabs Alexander sees a great range of opportunities to create new breakthrough products at the intersection of diverse innovations from across the company’s portfolio.

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