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On May 3, 2018, Jack Ma, founder of China's e-commerce giant Alibaba, burst out laughing at an event at the Tel Aviv University in Israel.
(photo credit: AMIR COHEN / REUTERS)
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Alibaba Group, the e-commerce giant of Jack Ma, has acquired the start-up Infinity Augmented Reality, based in Ramat-Gan, announced Sunday the two companies.
Although no financial details regarding the acquisition have been revealed, the financial daily globes cited market sources estimating a transaction of more than $ 10 million.
Founded in 2013, InfinityAR is an operating system provider that transforms augmented reality glbades into a content augmentation platform, based on its own simultaneous localization and mapping (SLAM) solution.
Under the agreement, InfinityAR will join Alibaba's Herzliya-based machine vision laboratory, set up by Alibaba's DAMO Academy, the $ 15 billion electronics technology giant's technology innovation arm. cities of the world.
"We are looking forward to joining Alibaba, a world-clbad, innovative global technology company, and part of the company's Israeli machine vision laboratory," said Motti Kushnir, CEO and co-founder of InfinityAR.
"Alibaba's expertise in transforming technologies into next generation products will provide an excellent platform for future technologies of computer vision, AR and AI . "
InfinityAR has been working with Alibaba since 2016, when Jack Ma's group ran a $ 18 million budget. Series C financing for the company, in partnership with the Japanese company of computer and entertainment Sun Corporation.
"Alibaba is excited to be working with InfinityAR as one team after three years of partnership," said Professor Lihi Zelnik-Manor, head of the Alibaba Machine Vision Lab in Israel.
"The talented team brings unique expertise in sensor fusion, computer vision and navigation technologies, and we look forward to exploring these cutting-edge technologies and offering benefits." customers, partners and developers. "
The acquisition of InfinityAR represents Alibaba's second acquisition of an Israeli company to date, with the acquisition of the Israeli start-up Visualead in November 2017.
In December 2018, the Alibaba Group made a strategic investment in Optibus, a start-up specializing in the optimization of public transport. Since 2016, he has also invested in the cloud-connected dashcam developer, Nexar, the advanced data warehouse vendors on GPU SQream Technologies, augmented reality company Lumus and Twiggle, search engine for e-commerce.
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