Intel has acquired Tel Aviv-based startup Replay Technologies, which has developed multi-dimensional imaging technologies for sports TV coverage. There are reports that the chip maker paid $175 million for the acquisition. Since no financial details have been revealed, nothing official can be said yet.
A good fit for Intel
Intel is probably acquiring the company to gain its technology for capturing sports events with instant replays that can be viewed from all angles. Intel’s goal is to digitize sports, bringing computer power, measurement and sensors to real-world athletic events.
In a blog post, Intel CEO Brian Krzanich said, “More than ever, everything in sports is becoming digital and measurable. This will fundamentally change everything we know about the way athletes perform and the arenas in which they compete.”
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On Tuesday when officially announcing the acquisition, Intel SVP Wendell Brooks said that since 2013, Intel has been collaborating with the Israeli company to optimize their interactive, immersive video content on its platforms.
“As natural next step in our collaboration, today we’re excited to announce that Intel signed an agreement to acquire Replay Technologies,” Brooks said.
Making sports more fun
Replay has already introduced Free Dimensional Video (FreeDTM), which allows consumers to experience and see real live scenes with the help of immersive camera views from multiple angles. Replay’s free dimensional video is shaping the way people communicate, control and watch live events. Most recently, Replay partnered with Intel to deliver consumer-controlled 360-degree instant replays for the NFL during Super Bowl 50 and for the NBA on All Star weekend.
In 2011, Replay Technologies was founded by CEO Oren Yogev, CTO Mateo Shapira and COO Aviv Shapira. The startup company for sport imaging has about 100 employees. Only last week, Replay announced that it had raised $13.5 million in a financing round led by Deutsche Telekom Capital Partners (DTCP). The company has raised around $27 million to date, and its other investors include Samsung Ventures, OurCrowd and Dallas Mavericks owner Mark Cuban.
On Tuesday, Intel shares closed down 1.23% at $30.56. Year to date, the stock is down by over 11%, while in the last year, it is down by almost 8%. The stock has a 52-week high of $35.59 and a 52-week low of $24.87.