Monday, September 10, 2018

Machine Box Acquired For $5.0M

San Rafael-based Machine Box, which develops machine learning and artificial intelligence software, has been acquired by Costa Mesa, California-based Veritone. Veritone said on Monday that the deal was worth approximately $5.0M, including $2.0M upfront plus up to $3.0M in earn out, split between Veritone stock and cash. Veritone said the deal will help add a range of "cognitive engines" to its offerings, including face and object recognition, text analytics, data classification and personalized recommendation. Veritone said the deal is a "major step" to making AI solutions accessible to a greater number of people and organizations. Machine Box was led by CEO Aaron Edell. Veritone says that Machine Box's toolkits will be made available as part of the Vertine Developer application environment.