In another large acquisition for an Israeli tech company, Intel has acquired a Tel Aviv based startup which has developed multi-dimensional video imaging technologies for sports TV coverage.
Intel Corp. (Nasdaq: INTC) is acquiring Israeli sports imaging startup Replay Technologies. No financial details have been disclosed but market sources believe that Intel will pay $175 million for the acquisition. The two companies have been in talks over the acquisition for the past six months.
In officially announcing the acquisition this morning, Intel SVP Wendell Brooks said, “Intel has been collaborating with Replay since 2013 to optimize their interactive, immersive video content on Intel platforms. As a natural next step in our collaboration, today we’re excited to announce that Intel signed an agreement to acquire Replay Technologies.”
Based in Ramat Hahayil in Tel Aviv, Replay Technologies was founded in 2011 by CEO Oren Yogev, CTO Mateo Shapira and COO Aviv Shapira. The company has 100 employees according to IVC.
Replay Technologies has developed multi-dimensional video imaging technologies. The Tel Aviv-based company has already introduced Free Dimensional Video (FreeDTM), which allows viewers to see and experience real-life scenes through immersive camera views from multiple angles. Replay Technologies is exploiting the potential growth of virtual reality and augmented reality, and supports a service that encourages viewers to ‘jump’ into live events and experience them from any perspective. Replay Technologies’ FreeDTM technology is shaping the way people interact, control and watch live events. Most recently, this vision came to life when Replay partnered with Intel to deliver consumer-controlled, 360-degree instant replays for the NFL during Super Bowl 50 and for the NBA during the All-Star Weekend.
Only last week, Replay technologies announced that it had raised $13.5 million in a financing round led by Deutsche Telekom Capital Partners (DTCP). The company has raised $27 million to date and other investors include Dallas Mavericks owner Mark Cuban, Samsung Ventures, and OurCrowd.