US semiconductor giant Intel Corporation announced on Monday that it will acquire Israeli startup Screenovate, a Ra’anana-based firm that develops duplication solutions for screens of mobile devices.
While the deal’s financial details were not disclosed, a source told Globes that Intel would pay USD 100 million for the Israeli company, while CTech By Calcalist estimates the deal to be in the region of USD 150 million.
Founded in 2009 by Joshua Glazer, Screenovate has developed a screen duplication solution that enables smartphone screens to be projected onto TVs and computers. The company’s solution can also be used to scan, print, and copy files, as well as to transform a tablet or smartphone into a game controller.
Screenovate will join Intel’s Client Computing Group, which is the company’s PC-centric department. Intel plans to continue to develop and market Screenovate’s existing products and work together with the company’s team to improve the user experience on PCs.
“Screenovate is a pioneer and leader in developing technology for advanced integration between end devices based on different operating systems and has strong partnerships with leading players in the industry. The opportunity to become part of Intel with its market coverage, technology power, and excellent connections opens new horizons for all of us. This is excellent news for the team, for the PC market, and our customers,” Glazer said, according to a press release.
“The many studies that we have conducted have found the enormous importance of the user experience regardless of what device is being used,” Jim Johnson, Intel corporate vice president and general manager of client engineering, said.
“One of Intel’s targets is to work to achieve innovative solutions that will fulfill in the most optimal way the needs of our customers. The acquisition of Screenovate will help us promote this aim because it complements our platform technology portfolio and provides solutions for our customers in situations of interaction between a range of devices. We look forward to Screenovate’s talented engineers joining the ranks of Intel,” Johnson added.
The article was originally published by NoCamels, a leading news website covering breakthrough innovation from Israel for a global audience.