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Huawei has acquired R & D business of Russian company Vocord
Chinese IT giant Huawei has completed a deal to acquire the develop business part of the intelligent video surveillance systems, biometric identification and computer vision of Vocord. The company is part of the venture fund portfolio of "Leader-Innovation" and "S-Group Ventures" created with the participation of RVC capital.
In addition to "Leader Innovation" and "S-Group Ventures" funds, Aleksey Kadeishvili and Vyacheslav Kuzmichev, founders of Vocord company, sold their shares. Return on investment (ROI) exceeded 3x.
Vocord company, the Russian developer and manufacturer of the professional video surveillance systems and biometric identification based on the artificial intelligence technologies, was established in 1999. Vocord is a recognized world leader in the area of face recognition, having the leads in authoritative world rankings.
The Company solution portfolio includes: face recognition systems, intelligent video surveillance systems, photo- and traffic enforcement camera, traffic flow analytics, as well as audio record, on the basis of which complex geographically-distributed projects are being successfully implemented. The company systems have been implemented in more than 2000 projects of commercial and government organizations and more than 70 "Safe City"-projects in Russia and abroad. The Company is actively engaged in new technology developments in video analysis: computer vision, image recognition, video flow analysis, situational video analytics and others.
"This is one of the most significant deals in RVC history for the portfolio company sale to an international strategic investor. The management companies, oriented towards the divestment, have done a lot of professional work in deal structuring. Vocord technologies interested one of the leaders of the global IT and telecommunication industry, having proved the highest level and professionalism of the company founders and developers. For RVC and executive teams of our funds this deal brought also substantial returns — its amount multiply exceeded the initial investment amount," said Alexey Basov, Deputy General Director, Investment Director of RVC.
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