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Apple acquires Israeli AI startup Q.ai in first sizeable deal in years
['Vlad Schepkov', 'Thu January At Pm Gmt', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Investing.com -- Apple Inc. has acquired Israel-based artificial intelligence startup Q.ai, which specializes in technology that reads facial movements and understands silent communication.
The acquisition brings back Aviad Maizels to Apple’s fold, who co-founded Q.ai and was previously involved in a startup Apple purchased about ten years ago that helped develop Face ID.
While Apple did not reveal the purchase price, the Financial Times reported the deal valued Q.ai at nearly $2 billion.
Before the acquisition, Q.ai had secured backing from several major investors including Google Ventures, Spark Capital, and Kleiner Perkins, according to the startup’s website.
At the reported $2 billion price tag, the deal also represents Apple’s first ’sizeable’ deal in years.