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MTS bought a company that developed face recognition systems

MTS subsidiary Intema will buy out a controlling stake in VisionLabs, which specializes in the development of AI solutions in the field of computer vision. They will be purchased from the founders of VisionLabs, Sberbank and Sistema_VC, the AFK Sistema venture capital fund.

The deal will amount to about 7 billion rubles. However, the final cost will be announced within three years based on the results of the company’s performance analysis. They plan to close the deal in 2022.

The acquisition of VisionLabs will strengthen the MTS AI product portfolio in the demanded direction of video analytics, which we can use both to unleash the potential of the MTS digital services ecosystem and in the interests of our corporate clients in Russia and on the international market.

Vyacheslav Nikolaev
President of MTS

VisionLabs has completed over 500 projects in 37 countries. VisionLabs software is used in 1.7 million cameras.

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