VisionLabs has been acquired by AI subsidiary of MTS AI for around $100 mln, becoming the largest portfolio company.
MTS AI and VisionLabs: in quest of AI innovations
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 group, formed by MTS AI. As the result of the deal, it will acquire the majority ownership from the VisionLabs founders.
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.