FotoNation Sold To Tessera

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Facial Recognition software company FotoNation is to be sold to Tessera technologies, a company that makes chips for digital cameras. FotoNation make the facial recognition software that is used in many digital cameras to remove red eye and detect faces so the camera can then focus on the faces. The company will be sold for $29 million in cash, plus an additional $10 million if the company performs well over the next year. FotoNation  CEO  Eran Steinberg claimed that "through this acquisition, we see highly compelling opportunities resulting from combining FotoNation’s advanced image processing technologies with Tessera’s consumer optics products."

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