U.S. chip giant Intel is in the final stages of negotiations to buy Replay Technologies for about $175 million, sources told The Marker. Replay has 110 employees, about 80 of them in Israel.
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An acquisition would be the latest big exit in the Israeli high-tech industry. Intel, already the largest high-tech employer in the country with about 10,000 employees, is a serial purchaser of Israeli startups.
The two companies are expected to sign a deal shortly; they launched talks in December.
Replay Technologies develops video technology and has attracted $27 million in capital. About half of that was raised just last week, led by Deutsche Telekom.
Replay was founded in 2011 by Oren Yogev, Aviv Shapira and Matteo Shapira. The company is based in the Ramat Hahayal business park in north Tel Aviv.
The company’s FreeD, or Free Dimensional Video, lets viewers see events such as sporting events from a number of angles, made possible by an array of cameras at the venue.
In 2014, Replay won an Emmy Award for its technical work with the New York Yankees baseball team and the Yes Network, a regional U.S. satellite and cable sports network.
Also that year, Forbes magazine named Replay one of the 10 most innovative companies in sports business. Replay’s technology made its debut at the 2012 London Olympics.
For Intel, the acquisition of Replay would be a bit out of the ordinary; the target is mainly a media firm.
But the two companies have already cooperated on the technology – in January at the CES consumer technology conference in Las Vegas. The acquisition talks were already underway.
The technology was demonstrated by the chief executive of Intel, Brian Krzanich. It enables a broadcast of an entire sports venue, letting the viewer to see all 360 degrees of the action.