26 Mar '19
A sizable Chinese investor is likely to take over Vocord, a Russian developer of face recognition and video analytics systems.
Sources familiar with the development shared behind-the-scene information that a $38.5-46m deal was being negotiated with Huawei, a large household electronics maker. The current unofficial valuation of Vocord is within a $7.7-12.3m range.
Moscow-based Vocord has developed solutions to analyze digital photo and video material. One of the promising applications is forensic science (criminalistics). Another is biometric face recognition designed to ensure security at home, office or in large public places.
Vocord has been in the Russian market since 1999, developing and producing professional video surveillance systems and telecom solutions. A more recent focus is R&D in new video analysis technology, including computer vision, face recognition, vehicle license plate recognition, etc.
In 2016, Vocord beat all competitors, including a Google algorithm, to become the world’s best during tests on the MegaFace online testing grounds.