China Global M&A Push, 2005 ~ Nowadays

[zestokryl]

Then go back to your initial question. Thats why deal must be approved by the EU body, in order for the company to avoid hardship in the orwellian fourth reich

 

[jhungary]

Syngenta needs approval from antitrust authorities to sell her business in the EU, America. I believe even in her home Switzerland, the Swiss antitrust authority must approve the deal. That is the standard procedure and not surprising.

The surprise is that China buys a company that is the leader in genetically engineered seeds. But China forbids GES products at home. How can such a deal make sense? many countries in the world forbid or place restrictions. The market is thin. I bet, the Chinese hope to sell such evil stuffs with big profits to few countries, that allow and have high demand on genetically engineered seeds. One of countries is surprisingly Vietnam.

Syngenta pesticides business is not worth the money.

In any case the Chinese have too much money. they are out to buy the world.

Well, I have heard of EU anti-trust law, the problem is, I don't think that Applies to Syngenta, Article 101 prohibit 2 or more competitors to enter into agreement on a given market, Article 102 does not allow dominance used to abuse market. The problem is Syngenta is neither entering into agreement to some other entity nor it was a dominance factor abusing the market. I don't think EU anti-trust law applies in the case of Syngenta, even if Swiss is part of EEC.

Maybe Swiss own Anti-trust or anti competition law require EU approval before selling the business? But again, that would just be strange as EU have nothing to gain with or without that company staying in Swiss hand. Maybe need to ask my wife or some other friend who have more extensive knowledge on EU law later tonight??

Anyway, yes, it is widely believed the Chinese acquisition is about Chemical and Biological Engineering instead of Chemical Product (it's quite hard to imagine China will gun for Syngenta just because of the 2 or 3 pesticide trademark?) Why and how they want it is remain to be seen, am not saying there are ulterior motive, it may simply because the Chinese wanted a quick buck, but then having chemical knowledge on crops is usually a big alarm to be rang in multiple level

 

[Viet]

Well, I have heard of EU anti-trust law, the problem is, I don't think that Applies to Syngenta, Article 101 prohibit 2 or more competitors to enter into agreement on a given market, Article 102 does not allow dominance used to abuse market. The problem is Syngenta is neither entering into agreement to some other entity nor it was a dominance factor abusing the market. I don't think EU anti-trust law applies in the case of Syngenta, even if Swiss is part of EEC.

Maybe Swiss own Anti-trust or anti competition law require EU approval before selling the business? But again, that would just be strange as EU have nothing to gain with or without that company staying in Swiss hand. Maybe need to ask my wife or some other friend who have more extensive knowledge on EU law later tonight??

Anyway, yes, it is widely believed the Chinese acquisition is about Chemical and Biological Engineering instead of Chemical Product (it's quite hard to imagine China will gun for Syngenta just because of the 2 or 3 pesticide trademark?) Why and how they want it is remain to be seen, am not saying there are ulterior motive, it may simply because the Chinese wanted a quick buck, but then having chemical knowledge on crops is usually a big alarm to be rang in multiple level

The problem is ChemChina and syngenta will dominate the market in conventional/genetic pesticide, biotechnology and genetically modified seeds if unchecked. The antitrust authorities ask the Chinese to sell parts of the business to prevent a monopoly to which the Chinese want to comply.

Lots companies produce pesticides but only few can Biotechnology, and fewer can GMO.

As asking the own wife. Being on vacation, passing by a shop I laughed when seeing a shirt with the slogan:

"I don't need Google. My wife knows everything!".

 

[Bussard Ramjet]

Well, US fined ZTE for doing business with Iran and NK, it's not because of Qualcomm.

EU cannot just go fine company without a reason, they can impose tariff, or taxes, but they cannot fine Syngenta for selling to China. They can say since you are no longer Swiss own, then you need to deal with EU tariff, but then Swiss wasn't EU to begin with, that mean nothing actually.

Most global companies of today are international. This means that they have significant operations aboard.

As such, Syngenta as a company is more Western than it is Swiss. It has most of its core assets in Europe, and US.

 

[TaiShang]

Syngenta needs approval from antitrust authorities to sell her business in the EU, America. I believe even in her home Switzerland, the Swiss antitrust authority must approve the deal. That is the standard procedure and not surprising.

The surprise is that China buys a company that is the leader in genetically engineered seeds. But China forbids GES products at home. How can such a deal make sense? many countries in the world forbid or place restrictions. The market is thin. I bet, the Chinese hope to sell such evil stuffs with big profits to few countries, that allow and have high demand on genetically engineered seeds. One of countries is surprisingly Vietnam.

Syngenta pesticides business is not worth the money.

In any case the Chinese have too much money. they are out to buy the world.

China has its on seed gene bank and independent research ecosystem to ensure national security. The purpose of this purchase is to solidify China's leadership in global market and help those countries with no indigenous seed genetics technology. It is not a joke, genetically improved rice in China has increased the yield several times.

Too much money does not buy you strategic assets, by the way. A strategic mind, good negotiation skills, and long term planning do.

Japanese was once in a buying spree and they were violently repelled by the USers. China has a multimodal approach to M and A, which allows to circumvent direct US regime intervention.

When one day in your lifetime Vietnam starts chasing after US firms, you will understand the prejudice and regret for being a Communist.

 

[Shotgunner51]

China's Shandong in advanced talks to buy half of Barrick's Veladero mine: sources
Wed Apr 5, 2017 | 12:51pm EDT
By John Tilak and Nicole Mordant | TORONTO/VANCOUVER

Summary:

• China's Shandong Gold Mining Co Ltd (600547.SS) is in advanced talks to buy a 50 percent stake in Barrick Gold Corp's (ABX.TO) (ABX.N) Veladero gold mine in Argentina.
• People familiar with the process told Reuters even as the Canadian miner grappled with a pipe rupture at the site. Veladero, one of Barrick's five core mines, was the site of a pipe rupture last week - the third incident in 18 months at the mine involving cyanide-bearing solution. In the wake of the incident, the government of Argentina's San Juan province, where Veladero is located, said on Wednesday it has rejected a work plan presented by Barrick. San Juan's governor and provincial mining minister met with Barrick President Kelvin Dushnisky and other company executives, according to a statement on the province's website. A second meeting is expected to be scheduled soon, it said. Barrick will "work with the authorities to understand their concerns and make adjustments as needed," a spokesman said in an emailed response. Barrick's shares were down 1 percent in Toronto at C$25.85 in early afternoon trading, falling more than its peers.
• As part of a purchase plan being discussed, Shandong would also acquire 50 percent of Barrick's nearby undeveloped Pascua-Lama gold and silver project, one of the people said. The Pascua-Lama project, which straddles the border of Argentina and Chile in the Andes, was put on hold in 2013 due to environmental issues, political opposition, labor unrest and development costs that ballooned to $8.5 billion.
• Shandong is one of China's biggest gold producers and a deal would mark the latest instance of Chinese companies investing in Latin America's resource-rich commodities sector, partly to feed domestic demand.

Read the full article at http://www.reuters.com/article/us-barrick-veladero-shandong-idUSKBN1771QH

 

[ahojunk]

China's Shandong in advanced talks to buy half of Barrick's Veladero mine: sources
Wed Apr 5, 2017 | 12:51pm EDT
By John Tilak and Nicole Mordant | TORONTO/VANCOUVER

View attachment 389097

Summary:

• China's Shandong Gold Mining Co Ltd (600547.SS) is in advanced talks to buy a 50 percent stake in Barrick Gold Corp's (ABX.TO) (ABX.N) Veladero gold mine in Argentina.
• People familiar with the process told Reuters even as the Canadian miner grappled with a pipe rupture at the site. Veladero, one of Barrick's five core mines, was the site of a pipe rupture last week - the third incident in 18 months at the mine involving cyanide-bearing solution. In the wake of the incident, the government of Argentina's San Juan province, where Veladero is located, said on Wednesday it has rejected a work plan presented by Barrick. San Juan's governor and provincial mining minister met with Barrick President Kelvin Dushnisky and other company executives, according to a statement on the province's website. A second meeting is expected to be scheduled soon, it said. Barrick will "work with the authorities to understand their concerns and make adjustments as needed," a spokesman said in an emailed response. Barrick's shares were down 1 percent in Toronto at C$25.85 in early afternoon trading, falling more than its peers.
• As part of a purchase plan being discussed, Shandong would also acquire 50 percent of Barrick's nearby undeveloped Pascua-Lama gold and silver project, one of the people said. The Pascua-Lama project, which straddles the border of Argentina and Chile in the Andes, was put on hold in 2013 due to environmental issues, political opposition, labor unrest and development costs that ballooned to $8.5 billion.
• Shandong is one of China's biggest gold producers and a deal would mark the latest instance of Chinese companies investing in Latin America's resource-rich commodities sector, partly to feed domestic demand.

Read the full article at http://www.reuters.com/article/us-barrick-veladero-shandong-idUSKBN1771QH

This deal is confirmed ...

========
Reuters | Thu Apr 6, 2017 | 2:45am EDT
China's Shandong Gold in $960 million deal for half of Barrick's Veladero mine

China's Shandong Gold Mining Co Ltd (600547.SS) will pay $960 million for a 50 percent stake in Barrick Gold Corp's (ABX.TO)(ABX.N) Veladero gold mine in Argentina, the Canadian miner said in a press release on Thursday.

The deal, which confirms an earlier Reuters report about the talks, will also see the two firms look at jointly developing the nearby undeveloped Pascua-Lama gold and silver project which straddles the border of Argentina and Chile.

Barrick added the two miners would also look at other additional investment opportunities on the El Indio Gold Belt.

"Shandong is an ideal partner to help us unlock the untapped mineral wealth of the El Indio Belt over the long-term, while working with us to generate more value from the Veladero mine today," Barrick Executive Chairman John Thornton said.

Shandong Gold's Chairman said in the release the miner was looking to "build a long-term relationship" with Barrick.

"We are excited to enter Argentina's dynamic mining industry in partnership with Barrick at Veladero, while exploring other opportunities in one of the most prospective mineral districts in the world," he said.

Reuters could not reach Shandong Gold for further comment.

Shandong had taken the lead in talks with Barrick to take a stake in the mine after discussions with rival Chinese firm Zijin Mining Group Co Ltd (601899.SS) fell through.


(Reporting by Adam Jourdan; Additional reporting by SHANGHAI newsroom; Editing by Christian Schmollinger)


********

Looks like Shandong Gold was competing with Zijin Mining Group.
.

 

[TaiShang]

Apr 06, 2017
Train Wheel-Maker Deal Puts Chinese Firm on Track to Break Monopoly

By Lu Bingyang, Sun Lizhao, Zhang Erchi and Coco Feng

(Beijing) — A Chinese company has bought a German train wheel maker in a play to break the near-monopoly one Sino-Italian manufacturer has in China over supply of a key component known as wheelset for high-speed carriages.

Full Hill Enterprises Ltd. purchased Bochumer Verein Verkehrstechnik GmbH (BVV), one of the five largest wheelset manufacturers in the world, Full Hill Chairman Xuan Ruiguo told Caixin. The amount of the deal, completed in late March, wasn’t disclosed.

A wheelset is a key component of trains and consists of a pair of wheels attached to an axle.

BVV used to control about 30% of the wheelset market in China. But its share has declined in recent years because of the poor service offered by its domestic sales agents, Xuan said.

BVV now has about 10% of China’s market, while Zhibo Lucchini Railway Equipment Co. Ltd., a Sino-Italian wheel manufacturer, dominates, with more than 80% control, people familiar with the matter told Caixin.

Full Hill’s “goal is to raise BVV’s market share in China to 50% in three to five years,” Xuan said.

Full Hill has also acquired two other train suppliers, Germany’s axle maker Bahntechnik Brand-Erbisdorf GmbH (BTBE) and Brazil’s MWL Brasil Rodas & Eixos Ltda (MWL), which supplies wheelsets to the U.S. Those companies, and BVV, were once owned by German steel giant Georgsmarienhütte Holding GmbH.

Although China has become a global player in rail technology, it has long relied on imports of wheelsets needed for high-speed trains.

China’s dominant train manufacturer, CRRC Corp. Ltd., which has secured contracts to supply trains to Boston, Philadelphia, and India, imports the majority of its wheelsets from Zhibo.

Zhibo’s domination in the Chinese market has made it difficult for CRRC to bargain to get lower prices, a CRRC employee told Caixin.

“CRRC is happy to see the arrival of more competitors that supply wheelsets for high-speed trains, which can break Zhibo’s monopoly,” the CRRC employee said.

Xuan is also the chairman of China Automation Group Ltd., which supplies power equipment for the railway industry, and vice chairman of Guangdong Kaiping Chunhui Co. Ltd., which makes textile and high-speed rail facilities.

 

[Shotgunner51]

This deal is confirmed ...

========
Reuters | Thu Apr 6, 2017 | 2:45am EDT
China's Shandong Gold in $960 million deal for half of Barrick's Veladero mine

China's Shandong Gold Mining Co Ltd (600547.SS) will pay $960 million for a 50 percent stake in Barrick Gold Corp's (ABX.TO)(ABX.N) Veladero gold mine in Argentina, the Canadian miner said in a press release on Thursday.

The deal, which confirms an earlier Reuters report about the talks, will also see the two firms look at jointly developing the nearby undeveloped Pascua-Lama gold and silver project which straddles the border of Argentina and Chile.

Barrick added the two miners would also look at other additional investment opportunities on the El Indio Gold Belt.

"Shandong is an ideal partner to help us unlock the untapped mineral wealth of the El Indio Belt over the long-term, while working with us to generate more value from the Veladero mine today," Barrick Executive Chairman John Thornton said.

Shandong Gold's Chairman said in the release the miner was looking to "build a long-term relationship" with Barrick.

"We are excited to enter Argentina's dynamic mining industry in partnership with Barrick at Veladero, while exploring other opportunities in one of the most prospective mineral districts in the world," he said.

Reuters could not reach Shandong Gold for further comment.

Shandong had taken the lead in talks with Barrick to take a stake in the mine after discussions with rival Chinese firm Zijin Mining Group Co Ltd (601899.SS) fell through.


(Reporting by Adam Jourdan; Additional reporting by SHANGHAI newsroom; Editing by Christian Schmollinger)


********

Looks like Shandong Gold was competing with Zijin Mining Group.
.

So it's done, excellent news! I always like global mining assets.

 

[Shotgunner51]

Shanhai Capital Completes Acquisition of Analogix Semiconductor
April 06, 2017 05:00 PM Eastern Daylight Time

SANTA CLARA, Calif. & BEIJING--(BUSINESS WIRE)--Analogix Semiconductor, Inc. and Beijing Shanhai Capital Management Co, Ltd. (Shanhai Capital), today jointly announced the completion of the approximately $500 million acquisition of Analogix Semiconductor. China Integrated Circuit Industry Investment Fund Co., Ltd. (China IC Fund) joined Shanhai Capital’s fund as one of the limited partners.

“We are very pleased to have completed the transaction,” said Dr. Kewei Yang, Analogix Semiconductor’s chairman and CEO. “Enhanced by the strong financial support of our new investors, Analogix’s future is brighter than ever. We are excited to continue building and growing Analogix into a global leader in high-performance semiconductors.” ​

“As Analogix’s key financial partner and investor, we look forward to leveraging our resources to accelerate the company’s growth into new markets,” said Mr. Xianfeng Zhao, Chairman of Shanhai Capital. “We will build on the strength of the company’s core technology and customer relationships to create an exceptional semiconductor company that will be publicly listed in China.” ​

Sino-American International Investment Ltd, and Needham & Company, LLC served as financial advisors to Analogix Semiconductor. O'Melveny & Myers LLP served as legal counsel to Analogix Semiconductor.

Pillsbury Winthrop Shaw Pittman LLP and Jingtian & Gongcheng acted as legal counsel to Beijing Shanhai Capital Management Co.

About Analogix Semiconductor

Analogix Semiconductor, Inc. designs and manufactures semiconductors for the digital multimedia market, from portable devices such as smartphones to high-end graphics cards and large, high-definition displays. Analogix is the market leader in providing end-to-end interface connectivity semiconductor solutions for DisplayPort, including high-speed signal conditioners and the SlimPort family of products, and an industry leader in mobile display controllers, such as low-power, high-speed timing controller solutions. The DisplayPort standard is an innovative, packetized digital interface for high-resolution video and audio that was developed by the Video Electronics Standards Association (VESA). SlimPort branded products are compliant with DisplayPort, Mobility DisplayPort (MyDP), and DisplayPort Alternate Mode over the USB Type-C connector.

Kewei Yang, Chairman and CEO. Throughout his career, Kewei Yang has focused on high-speed analog and mixed-signal design. Before co-founding Analogix, he was vice-president of engineering at Mindspeed, a division of Conexant, where he directed the company’s development of high-speed transceivers and switch fabric ICs. He came to Conexant via its acquisition of HotRail, where he served as chief scientist. He also served as a lead designer at Rendition, a graphics chip company, and at Hewlett-Packard in the Computer Technology Lab. Yang has a B.S. degree in electrical engineering from Tsinghua University and an M.S. degree in electrical engineering and Ph.D. from Johns Hopkins University.

For more information visit www.analogix.com and www.slimport.com, follow us on Twitter @Analogix and @SlimPortConnect, or connect with us on LinkedIn.

Analogix and SlimPort are trademarks or registered trademarks of Analogix Semiconductor, Inc. All other trademarks and trade names are the property of their respective owners.​

About Beijing Shanhai Capital Management Co, Ltd.

Headquartered in Beijing, China, Shanhai Capital is a pioneer buyout fund in healthcare and technology managing RMB and USD-denominated funds. Its investment professionals have deep industry knowledge and are dedicated to a long-term investment horizon portfolio. By leveraging its resources and expertise, Shanhai Capital brings value-added services and accelerates the growth of its portfolio companies.​

http://www.businesswire.com/news/ho...-Completes-Acquisition-Analogix-Semiconductor

 

[ahojunk]

| Fri Apr 7, 2017 | 3:28pm EDT | Reuters
China's ZEPC in talks to buy Belo Monte dam stake: sources

An overview of the site of the Belo Monte hydroelectric dam, planned to be the world's third largest, in Pimental, near Altamira in Para state, November 23, 2013. REUTERS/Paulo Santos

By Luciano Costa | SAO PAULO

China's Zhejiang Electric Power Construction Co Ltd (600023.SS) (ZEPC) is in talks to buy a stake in Brazil's Belo Monte hydroelectric dam, one of the country's biggest, two sources familiar with the negotiations told Reuters.

The 11,233-megawatt dam on a major tributary to the Amazon River is owned by the Norte Energia consortium, which includes utilities Eletrobras (ELET5.SA), Neoenergia SA, Cemig (CMIG4.SA) and Light SA (LIGT3.SA), mining company Vale SA (VALE5.SA), and pension funds Petros [PETROS.UL] and Funcef [FUNCEF.UL].

The sources, who asked not to be named because talks are private, gave no information on the value of a potential deal.

Last week, the chief executive of state-controlled Eletrobras, known formally as Centrais Eletricas Brasileiras SA, told reporters that some Belo Monte shareholders have been looking to sell their stakes in the project.

Belo Monte's shareholders' agreement includes a "tag along" clause, obliging an investor who buys a controlling stake in the project to offer similar terms to remaining shareholders, which could sharply increase the value of a deal.

It was not immediately possible to contact a representative for ZEPC. The Norte Energia consortium declined to comment and directed queries to its shareholders.

Eletrobras said it is prepared to evaluate its tag along rights, but said it would not comment on talks involving its partners. Neoenergia said there were no negotiations under way. Cemig, Light, Petros and Funcef did not return requests for comments.

The Norte Energia consortium has invested 31.6 billion reais ($10.1 billion), of an estimated 35 billion reais needed by the time it is finished in 2019.

Yet delays, cost overruns and licensing trouble have kept the dam from generating profits so far, and one of the sources said some partners are not satisfied with the project's outlook.

Belo Monte has also attracted controversy in Brazil and abroad, with environmental activists from Greenpeace to film director James Cameron decrying the impact on a previously untouched patch of rainforest and a nearby indigenous reserve.

A federal court suspended Belo Monte's operating license late on Thursday, for example, on the grounds that it had not completed basic sanitation projects near the dam.

At the same time, several stakeholders are struggling to cut debt amid tight credit conditions in Brazil. Cemig, Vale and Eletrobras have been looking to raise funds with asset sales. Pension funds Funcef and Petros are reevaluating their portfolios after losses.


($1 = 3.13 reais)

(Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Jonathan Oatis and Leslie Adler)

 

[ahojunk]

| Fri Apr 7, 2017 | 7:49am EDT | Reuters
Biotest agrees to takeover by China's Creat in 1.3 billion euro deal

Germany's Biotest (BIOG_p.DE) has agreed to be bought by Chinese investor Creat Group Corp in a cash deal valuing the blood plasma products maker at 1.3 billion euros ($1.4 billion), including debt.

Under the deal, which follows Creat's purchase of Britain's Bio Products Laboratory last year, shareholders will receive 28.50 euros per ordinary share in Biotest and 19 euros per preference share, the two companies said on Friday.

That's a 43 percent premium over the price at which the ordinary shares had traded before Creat's plans to buy Biotest became known, and a slight discount to the price of preference shares, which carry no voting rights.

"This transaction would deliver immediate value for stakeholders and long term value for the company," Biotest Chief Executive Bernhard Ehmer said in a statement on Friday.

Biotest's share capital is split evenly between ordinary and preference shares, with the latter share class being completely in free-float ownership.

OGEL, the investment vehicle of late company founder Hans Schleussner's family that owns 50.6 percent of ordinary shares in Biotest, has agreed to tender its stake, the companies said.

Creat announced last month that it had made an offer for Biotest, whose products are used to treat blood coagulation disorders, auto-immune diseases and immune deficiencies.

Ehmer said at the time that Creat had not been the only potential bidder but the company chose to talk to the Chinese investor because its proposal was "thought through".

Biotest's management and supervisory board support the deal, which is conditional on at least 75 percent of ordinary shares being tendered to Creat.

Credit Suisse is acting as financial advisor to Biotest, and Ashurst LLP is legal advisor. BofA Merrill Lynch is acting as financial advisor to Creat, and Kirkland & Ellis International LLP is providing legal advice.

($1 = 0.9407 euros)


(Reporting by Maria Sheahan; editing by Susan Thomas)

 

[Shotgunner51]

Parking Operator Indigo Said to Draw Chinese, Buyout Funds
Bloomberg News
April 6, 2017, 8:27 PM GMT+8 April 7, 2017, 8:24 AM GMT+8

• The owners of French parking lot operator Indigo started a sale process this week, sending information out to potential bidders in China, as well as infrastructure and private equity firms, according to people familiar with the matter.

• Ardian SAS and Predica, an arm of Credit Agricole SA, are aiming to fetch about 4 billion euros ($4.3 billion) for the asset, the people said, asking not to be identified because talks are private. The price is based on a valuation of 13 to 14 times Indigo’s earnings, one of the people said.

• Potential buyers include infrastructure investors -- such as Macquarie Group Ltd. and Cheung Kong Infrastructure Holdings Ltd., as well as Chinese companies like China Oceanwide Holdings Group Co., Fosun International Ltd. and China Merchants Group -- according to the people. Indigo has also drawn interest from sovereign wealth fund China Investment Corp. and private equity firms including KKR & Co. and Blackstone Group LP, the people said.

• Indigo is drawing suitors as investors look for infrastructure-like investments with steady cash flows and returns. Any deal would add to the $128.1 billion in takeovers of European companies this year, up from $118.4 billion during the same period in 2016, data compiled by Bloomberg show. Indigo, formerly known as Vinci Park, operates in more than 750 cities in 17 countries. It has more than 5,300 car parks and 19,000 employees, according to its website.

Read the full article at https://www.bloomberg.com/news/arti...le-grows-more-complex-as-off-book-bonds-surge

 

[Shotgunner51]

Yancoal snaps up Rio Tinto's NSW coal mines for $US2.5 billion
January 25 2017

Update, the $2.5 billion deal was approved by Australia's Foreign Investment Review Board (FIRB) on Thursday, now proceeding to next stage.

http://news.xinhuanet.com/english/2017-04/13/c_136205948.htm

 

[Shotgunner51]

Baidu Further Strengthens Visual Perception Capabilities with Acquisition of xPerception
MarketwiredApril 13, 2017

BEIJING, CHINA--(Marketwired - Apr 13, 2017) - Baidu, Inc. ( NASDAQ : BIDU), the leading Chinese language Internet search provider, today announced the acquisition of xPerception, a U.S. technology company that provides visual perception software and hardware solutions for a range of applications, including robotics, virtual reality (VR), and devices for people who are visually impaired.

The acquisition further strengthens the use of Baidu's visual perception technology in key projects like augmented reality (AR) and autonomous driving, accelerating the development of artificial intelligence-based products.

xPerception is a technology start-up with world-class talent from both China and the United States. The co-founders of the company, Dr. Bao Yingze and Dr. Chen Mingyu, were early key engineers at AR start-up Magic Leap.​

Following the acquisition, the core xPerception team will join Baidu Research and continue developing xPerception's core technology, visual inertial simultaneous localization and mapping (SLAM).

Accurate and robust SLAM is one of the fundamental technologies in visual perception. It plays a critical role in applications such as 3D vision, AR/VR, robotics like drones and autonomous driving.

Empowered by its core technologies, xPerception developed a 3D visual inertial camera with software SDK running on x86 or x64, ARM or other mobile platforms. The SDK features 6 degrees of freedom pose tracking, low-latency sensor fusion, as well as 3D obstacle detection and object recognition.

It enables intelligent hardware to "see" the world, allowing self-localization, 3D structure reconstruction, and path planning in new environments. xPerception's software and hardware solutions are currently being deployed in many projects of its customers in China and the United States, including public companies and VR industry leaders.

The acquisition of xPerception is the latest in a recent series of notable investments aimed at strengthening Baidu's position as a global leader in AI. AI has permeated many of Baidu's products, and the company has been attracting leading AI talent through its research facilities in Silicon Valley, Beijing, Shanghai, and Shenzhen.

http://finance.yahoo.com/news/baidu-further-strengthens-visual-perception-064628656.html