Smart Eye acquires iMotions for $47M to create behavioral AI research ‘powerhouse’
Human behavior prediction specialist Smart Eye has acquired behavioral software solutions developer iMotions to bring together their expertise on sensing technologies and biosensor software. The intention is to create a leading research team for analyzing emotional, cognitive and behavioral data and generate insights into behavior.
After the US$46.6 million (SEK 400 million) acquisition, the companies will continue to operate independently; Smart Eye with its eye-tracking and emotion AI, iMotions with its sensors. Pooling the technologies will allow for the full analysis of complex human behaviors.
iMotions, which will become a wholly-owned subsidiary, will continue with capturing measurements such as eye tracking, facial expression analysis, sweat gland activity, brain activity and heart rate. The takeover is hoped to allow it to innovate further with remote and mobile data collection and analysis.
“Smart Eye and iMotions have shared visions for eye tracking and multi-modal research for many years,” said Peter Hartzbech, founder and CEO of iMotions. “In Smart Eye we have the ideal partner to further invest in the vision to accelerate human behavior insights, driving transformation that will fuel our customers’ successes across commercial industries, as well as for academic researchers.”
Smart Eye acquired Affectiva in May 2021 to bolster its eye-tracking capabilities.
AI acquisitions have been announced at an unprecedented pace so far in 2021.