Intel Corporation acquires Toronto start-up CognoVision
MaRS client delivers industry-defining technology for audience measurement and retail intelligence
Toronto, November 16, 2010 — MaRS, a Toronto-based innovation centre, is pleased to announce that Intel Corporation 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 behaviour. Terms of the transaction were not disclosed.
The CognoVision team has developed an innovative Anonymous Impression Metric (AIM) platform that provides powerful business intelligence metrics for digital signage networks and retailers. Its solutions allow digital signage networks to measure and maximize their ROI and retailers to improve their bottom line by increasing store sales and reducing costs.
CognoVision’s early beginnings were as students in the MaRS Entrepreneurship 101 program. The company’s three founders, Haroon Mirza, Dr. Shahzad Malik and Faizal Javer, became MaRS clients in 2006. Since then, several MaRS advisors and mentors have worked with the CognoVision team as they evolved their product and business strategy.
“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 says. “We’ve benefitted 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 and abroad.”
For MaRS, it’s 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,” says 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.”
MaRS Discovery District (www.marsdd.com) is a large scale, mission driven innovation centre in Toronto, focused on building Canada’s next generation of growth companies. MaRS works closely with entrepreneurs in life sciences and health care, information technology, communications and entertainment, clean tech, advanced materials and energy, as well as the social sector.
MaRS Discovery District