News

Audience metrics firm CognoVision snapped up by Intel

November 15, 2010

Toronto -based anonymous video analytics specialists CognoVision have been acquired by United States-based Intel Corp., according to an announcement from Toronto's MaRS Discovery District, which was an early backer of CognoVision.

The purchase price hasn't been disclosed.

A spokeswoman for Intel also confirmed the deal, writing in an e-mail that the company had "acquired CognoVision in September as a part of its overall retail and digital signage strategy. The acquisition is intended to accelerate adoption of Intel architecture and strengthen Intel's leadership position in the digital signage market by adding software-based anonymous video analytics capabilities to Intel's portfolio."

According to the announcement from MaRS, CognoVision's early beginnings were as students in the MaRS Entrepreneurship 101 program. The company's three founders, Haroon Mirza, Shahzad Malik and Faizal Javer, became MaRS clients in 2006. Since then, several MaRS advisors and mentors have worked with the CognoVision team as they evolved their product and business strategy.

"We're grateful for the work that MaRS did over the years to help us move CognoVision from a concept to a rapidly growing business. The MaRS team have been a valuable extension of our own team and an integral part of our success," Mirza said in the announcement. "We've benefitted from guidance on our strategy, financing and marketing/sales at every stage of the company's development. They have also been very helpful in supporting us as we developed partner relationships here in Canada and abroad."