Google confirms yet another acquisition, and this time it's DeepMind for £400m ($650m), operating and specializing in the Artificial Intelligence.
Google seems to have focused strongly on Artificial Intelligence (AI). After setting up a new division led by Andy Rubin, and acquiring Boston Dynamics, the Mountain View group plans to carry out yet another acquisition: DeepMind.
Google has confirmed the acquisition to Recode, but didn’t reveal the possible outlay, although some sources speak of a net investment of £400m, about 650 million dollars.
The startup founded in 2011 is not so popular among the artificial intelligence community, but the team of experts is considered as one of the most valuable and innovative in their field, so as to be able to raise funds from Horizons Ventures, Founders Fund, and Skype co-developer Jaan Tallinn.
The 2-year old company founded by Demis Hassabis, Shane Legg and Mustafa Suleyman, is headquartered in London and employs around 75 people. As per reports, it has secured more than $50 million in funding so far. Despite all this, the official site consists of a simple page with little information.
“We combine the best techniques from machine learning and systems neuroscience to build powerful general-purpose learning,” reads the official website.
DeepMind is a leading company that deals with artificial intelligence, and “supported by some of the most iconic technology entrepreneurs and investors of the past decade.” They develop technologies for e-commerce and games, and has demonstrated computer systems capable of playing computer games.
Google CEO Larry Page reportedly personally involved in the negotiations and set the deal. Although, Facebook had also negotiated with DeepMind last year, but couldn’t get succeed.