Intel acquires computer vision firm Itseez

Focused on evolving into something more than simply a PC company, Intel on Thursday announced it is acquiring Itseez, a computer vision firm with an expertise in embedded and specialized hardware. "This acquisition furthers Intel's efforts to win in IoT market segments like automotive and video, where the ability to electronically perceive and understand images paves the way for innovation and opportunity," Doug Davis, senior vice president and general manager of Intel's IoT group, wrote in a blog post. Intel has already started building up its portfolio for the automotive market, Davis noted, adding capabilities like functional safety and over-the-air software management. The appeal of the market is clear, he said, given that self-driving vehicles could deliver 507 billion in annual productivity gains, according to Morgan Stanley estimates. So far, automakers and technology companies have turned to just a handful of firms for the new technology that powers self-driving cars, such as computer vision.