The CognoVision platform helps retailers and digital signage networks measure the effectiveness of in-store marketing.
MaRS, a Toronto-based innovation center, announced that technology giant
Intel has acquired CognoVision, one of its client companies. The CognoVision
platform helps retailers and digital signage networks measure the effectiveness
of in-store marketing and develop deeper insights into shopper behavior. Terms
of the transaction were not disclosed.
The CognoVision team is responsible for developing an Anonymous Impression
Metric (AIM) platform that provides business
intelligence metrics for digital signage networks and retailers. Its solutions
are designed to help digital signage networks measure and maximize their return
on investment (ROI) and retailers improve their bottom line by increasing store
sales and reducing costs.
The company's three founders, Haroon Mirza, Dr. Shahzad Malik and Faizal
Javer, became MaRS clients in 2006. Since then, several MaRS advisers and
mentors have worked with the CognoVision team.
"We're grateful for the work that MaRS did over the years to help us
move CognoVision from a concept to a rapidly growing business. The MaRS team
have been a valuable extension of our own team and an integral part of our
success," Mirza said. "We've benefited from guidance on our
strategy, financing and marketing/sales at every stage of the company's
development. They have also been very helpful in supporting us as we developed
partner relationships here in Canada
For MaRS' CEO it is rewarding to see
CognoVision's commercial success come to fruition. "CognoVision has made
truly impressive progress refining its product and establishing a leading
position in a highly competitive market since we first met their fledgling team
through our Entrepreneurship 101 program," said MaRS CEO
Dr. Ilse Treurnicht. "They are a very inspiring example of Canada's
entrepreneurial talent and passion. I have no doubt that we will hear more
from them in the future."
Intel Capital, Intel's global investment organization, also announced 18 new
investments: The new deals total approximately $77 million and were announced
today at the 11th annual Intel Capital CEO
Summit, Intel Capital's gathering of portfolio company CEOs and corporate technology
decision makers. The new Intel Capital investments span 11 countries: Brazil,
Malaysia, the Netherlands,
Ukraine and the
"Innovation continues to thrive all over the world," said Arvind
Sodhani, president of Intel Capital and Intel executive vice president. "Despite
the economic environment, these 18 investments help advance next-generation
computing technologies aligning with Intel's vision that more and more devices
will compute and connect to the Internet, called the 'compute continuum.' The
innovative technology developed by these companies supports the compute
continuum from advancements in PCs and server trends, such as cloud computing,
to building out the ecosystem around smart TVs and smartphones."