Monday, August 01, 2005

NeoMedia Signs Letter To Acquire Mobot

From VWD.com NeoMedia Signs Letter Of Intent To Acquire Visual Search Pioneer, Mobot

Another physical world connection player gets bought out
.


NeoMedia Technologies, Inc. an innovator in wireless services and patented technologies that provide automatic links to Internet-based information, today announced that it has signed a Letter of Intent to acquire Mobot, Inc., of Lexington, Massachusetts, a pioneer in mobile visual and recognition technology

TelecomWeb calls it "the marketing wedding of the year"

Mobot, has partnered with media companies, including Warner Music Group, JANE magazine, ELLEgirl, and VIBE magazine, and with advertisers, including L'Oreal, Samsung and Saturn, to launch interactive campaigns across wireless carriers that required no changes to existing visual media.

Like NeoMedia, Mobot connects the real world to the digital world via mobile camera phones

The non-binding LOI set terms for the acquisition of Mobot for an aggregate of cash and NeoMedia stock totaling up to $11 million, including interest-bearing bridge loans to Mobot of up to $1 million

These two combining forces could be very interesting.

I have commented on Mobot a few times 1 , 2, 3

5 comments:

Anonymous said...

From a distant perspective it would appear Neomedia execs read your blog. Real or imagined can't help but wonder if their next income statement will contain a footnote "IOU" in your favor. Mobot does add dimension to their stable.

Larry said...

I havent had time to look at it yet but I hope Mobot also brings IP to the table

Scott Shaffer said...

Taken from Mobot's site.

In response to these image quality challenges Mobot has developed a powerful, scalable, and flexible patent-pending solution which relies on image recovery, pattern recognition, and image matching capability ‘in the cloud.’

Mobot applies algorithms patterned after these methods to solve the problem of mobile visual search


Russell Gocht of Mobot

"Russell has several granted and pending patents. "

Pamela Lipson

Pamela has recently been recognized by the MIT Technology Review as one of 100 innovators under 35 whose work and ideas will change the world and also by the World Economic Forum as a technology pioneer.

Larry said...

Is there a tie in between Pamela and Mobot?

Anonymous said...

Pam Lipson is the Image Scientist at Mobot:

Pam Lipson, Image Scientist

Pamela Lipson is a founder of Imagen Incorporated. Imagen creates computer vision software packages that allow computers to intelligently analyze images, recognize objects and perform object validation assessments that may be too challenging for human inspectors. Imagen's technology was borne out of research in biological and machine vision done by Pamela and several colleagues at Massachusetts Institute of Technology's Artificial Intelligence Laboratory.

Beyond Imagen, Pamela has been working with her husband, Prof. Pawan Sinha, on Project Prakash, a humanitarian and scientific initiative to facilitate the treatment of congenitally blind children. Recently, Pamela has been recognized for developing a technology for encoding alphanumeric and graphical information with high density on crystalline substrates.

Pamela received her B.A from Harvard University and an M.S. and Ph.D. from the MIT Artificial Intelligence Laboratory, where her doctoral research was honored with the George M. Sprowls Award for exception research. Pamela has recently been recognized by the MIT Technology Review as one of 100 innovators under 35 whose work and ideas will change the world and also by the World Economic Forum as a technology pioneer.