NAVER Labs' autonomous car is displayed at the Seoul Motor Show. [Courtesy of Seoul Motor Show]
South Korea's top search portal NAVER has revealed a strong will to become a global technology leader with the acquisition of a France-based Xerox research center specializing in artificial intelligence, machine learning and other technologies.
Through the acquisition of Xerox Research Center Europe (XRCE) from US-based Xerox Corp., NAVER Corp. vowed to accelerate the development of ambient intelligence technologies and artificial intelligence (AI).
NAVER has aggressively invested in AI to catch up with global giants such as Google. The company operates its own research center, NAVER Labs, for AI-based autonomous driving and an AI lab specializing in machine learning applied to real-time translating service. Its Japan-based subsidiary, LINE, acquired Vincle, an AI home appliance company, to venture into the fast-growing AI assistant industry.
This month NAVER forged a strategic partnership with Qualcomm Technologies to accelerate the commercialization of Internet of Things (IoT) devices using Qualcomm's platforms and NAVER's multi-purpose AI platform Clova. The portal also teamed up with the securities arm of Mirae Asset Financial Group to launch a joint project for digital banking service.
XRCE, founded in 1993 just outside Grenoble, changed its name to NAVER Labs Europe. "We're very excited about joining NAVER Labs, an 'ambient intelligence' company conducting research in autonomous vehicles, AI, deep learning, 3D mapping and robotics," the center said in a post on its website.
In a joint statement, NAVER Corp. and Xerox Corp. said they agreed to close the deal in the third quarter of this year. Xerox would maintain ownership of intellectual property and arrange licensing agreements with NAVER.
"We expect immediate, powerful synergies," NAVER Labs CEO Song Chang-hyeon was quoted as saying. "XRCE's world class R&D achievements in AI technology, including computer vision and machine learning, will significantly strengthen NAVER Labs' research."
Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
