Omnidirectional Expansion
Naver Corp.announced on June 27 that the company took over the Xerox Research Center Europe (XRCE) from Grenoble, France, and will expand its research areas to future technologies such as artificial intelligence.
The Works Council (Comité d'entreprise) finally approved the takeover agreement, and the acquisition is expected to be completed by the end of the third quarter of this year in accordance with the remaining acquisition process.
In particular, Naver's research subsidiary Naver Labs is continuing research on future technologies in various fields such as artificial intelligence, autonomous driving, machine learning, and computer visions, proving its technological prowess in cooperation with various international events and organizations. The acquisition of XRCE will give the Korean search giant momentum to take off as a technology-intensive company.
Meanwhile, Naver Corp and Xerox will sign a license agreement to use the existing the XRCE’s intellectual property rights which belong to Xerox. 80 XRCE researchers will continue their research as members of Naver Labs.