TechTaffy

tech:

taffy

Naver to acquire Xerox Research Centre Europe (XRCE)

By TechTaffy Desk

Seongnam-based Korean Internet giant Naver is acquiring the Xerox Research Centre Europe (XRCE) in Grenoble, France. The French Works Council’s consultation on this project has now been completed and the agreement is expected to close in the third quarter, subject to fulfillment of certain customary conditions.

Founded in 1993, the Xerox Research Centre Europe is located outside Grenoble. The centre has focused its research in artificial intelligence (AI), machine learning, computer vision, natural language processing and ethnography.

In a statement, Steve Hoover, Xerox’s chief technology officer, said “The majority of research taking place at XRCE was supporting Xerox’s business process outsourcing unit, now an independent company and no longer aligns with Xerox strategy. This transaction will allow us to better optimize our R&D investment, focusing in areas more aligned to our business.”

Once the sale becomes final, all 80 plus researchers and administrative staff are expected to become part of Naver. Xerox will maintain ownership of intellectual property and arrange licensing agreements with Naver.

[Image courtesy: Xerox]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.