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Intel to buy VC-backed Movidius

According to an announcement on its site, Intel has agreed to acquire San Mateo, California-based Movidius, a vision processor company. No financial terms were disclosed. Movidius’ backers include Summit Bridge Capital, ARCH Venture Partners, Sunny Optical Technology Group, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital.