Naver (CEO: Sung Suk Han) revealed that the company has acquired Xerox Research Center Europe (XRCE) in Grenoble, France from the U.S. Xerox Corporation in order to expand future technology research such as artificial intelligence on June 26th. The Works Council(Comité d’entreprise) has finally approved the takeover agreement, and the acquisition is expected to be completed by the end of the third quarter of the year.
Founded in 1993, XRCE is a high-tech research center located on the outskirts off the Grenoble region of France, which bring up the image of the American Silicon Valley. The center mostly conducts research on future technologies including artificial intelligence, machine learning, computer vision, and natural language processing.
Naver CTO Chang Hyun Song commented, “XRCE is one of the main research institutes of Xerox, which attracts the world-renowned researchers. Naver thinks its research objectives in the field of future technology align with Naver’s own.” He added, “Especially, XRCE’s achievements in the fields of computer vision, machine learning and natural language processing is of special interest for Naver Labs. Combining the two efforts, we believe we can achieve even bigger achievements on a global scale especially in Life Environments Knowledge technology.”
Steve Hoover, CTO of Xerox, stated, “Xerox has innovated the world. We have consistently made technological advancements for the future in various fields such as the way people work.” He added, “Most of XRCE’s work have supported Xerox’s service businesses. However, now that we have become independent of Xerox’s service businesses, we will not follow Xerox’s strategies anymore.” He also added, “Through this acquisition, we will continue the optimized research and development plans for the direction we are moving forward with.”
Hoover also pointed, “Xerox considers innovation through technological research to be the core of our corporate strategy. We are committed to conducting a range of product development research at various locations including Palo Alto Research Center (PARC) and the Xerox Research in Canada.” He said, “Xerox continues to research and develop in a variety of areas including digital manufacturing of artificial intelligence, computer vision, machine learning, inkjet and digital printing, and printing equipments.”
Meanwhile, Naver and Xerox will sign a license agreement to use the existing XRCE intellectual property rights of Xerox, and 80 researchers from XRCE will continue their research and will become affiliated with Naver Labs.
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