Cognitec Systems, a developer of automatic facial recognition technology, announced is has been acquired by SALTO Systems.
The acquisition allows Cognitec to bolster research, development and market reach for its product portfolio while working with SALTO on new technologies.
“Working with Cognitec gives SALTO the opportunity to integrate emerging biometric and AI technologies into our group products and platforms to create new solutions and services that benefit all of our clients,” said SALTO’s Chief Technology and Innovation Officer Marc Handels.
Cognitec’s current offices and teams will remain in Germany, the United States and Australia.
“Becoming part of the SALTO Group allows us to extend our capabilities, market reach and business connections,” said Cognitec CEO Alfredo Herrera. “Since our founding, Cognitec has been the only company worldwide that has worked exclusively on face recognition technologies. SALTO brings an equally focused and excellence-driven corporate history to this alliance. We are ready to reap the mutual benefits of joining our innovative drive and long-standing expertise.”