Australia’s Top End Minerals has entered into an agreement to acquire Tel Aviv’s facial recognition company, Anyvision, for a reported $6 million.
In its mission statement, Anyvision says its solution is “the most advanced facial recognition technology engine in the world that works on millions of different identities without loss of performance.”
Apple, Facebook and Google have all recently bought facial recognition technology startups and are investing heavily in the artificial intelligence technology market as improving image recognition continues to be a hot high-tech niche.
Israel’s Anyvision analyses face recognition results with Open Source Intelligence (OSINT) Dashboard based on social networks’ database and reveal contacts, collaborators and insights about the given target.
The Israeli startup, founded in 2015, is catered for the Homeland Security field but says its technology to identify human targets in any scenario has applications to financial services, gaming, pathology, agriculture, and the control of home devices as well.
Top End Minerals says its acquisition will help it transition away from the resources sector. Completion of the deal is slated for the first half of 2016.