Sensio Technologies has executed an asset purchase agreement with Algolith to acquire its intellectual property portfolio, which includes four patents and nine pending patents, as well as Algolith's image processing technologies and source code. The deal, which came to less than seven figures, will strengthen Sensio's ability to offer 3D-image processing solutions.
"Algolith's noise-reduction and compression-artifact-reducing algorithms are among the best in the industry," noted Étienne Fortin, CTO at Sensio. "With the advent of connected TVs, noisy low-bit-rate video will be widespread and we foresee a high demand for this capability from our current customers in the consumer electronics market."
As part of the deal, Sensio will integrate of key Algolith employees into Sensio's staff and plans to fully support and develop the entire combined IP and software portfolio of the two companies.