PRESS: Huawei buys Russian firm’s facial recognition know-how

MOSCOW, Jun 3 (PRIME) -- Chinese telecoms equipment giant Huawei has acquired patents and a team of developers of Russia’s Vocord, a manufacturer of high-tech security systems based on computer vision and intelligent video processing algorithms for an undisclosed sum, business daily Vedomosti reported on Monday, quoting a source close to one of the firms.

The transaction was complex. Huawei’s Russian unit, Techcompany Huawei and Hong Kong’s Huawei Digital Technologies became owners of firm Igl Softlab, to which Vocord sold its rights for patents and equipment.

Igl Softlab will also take over most of Vocord’s employees.

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