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Google to acquire artificial intelligence company DeepMind Technologies
MUMBAI: Google is acquiring DeepMind Technologies, the British artificial intelligence company which uses general-purpose learning algorithms for applications that include simulations, e-commerce and games.
Although the terms of the deal were not disclosed, market estimates peg the acquisition price at $400 million. The acquisition was led by Google CEO Larry Page.
Google, which is working on projects including self-driving cars and robots, has become increasingly focused on artificial intelligence in recent years.
In 2012, it hired Ray Kurzweil, a leader in the field, and in May it announced a partnership with NASA and several universities to launch the Quantum Artificial Intelligence Lab.
DeepMind was founded by neuroscientist Demis Hassabis, who has been described as ‘probably the best games player in history’ along with Shane Legg and Mustafa Suleyman. The company combines machine learning and neuroscience to create general-purpose learning algorithms.
The purchase is Google’s fourth this month. On 4 January Google acquired an Android development company called Bitspin. This was followed by the $3.2 billion acquisition of smart thermostat company Nest Labs. Two days later, Google acquired a software security company called Impermium.