Interactive entertainment company and Activision’s subsidiary King acquires real-world artificial intelligence applications developing firm Peltarion. However, neither company provided any information regarding the valuation of this acquisition deal.
This new acquisition of Peltarion will help King boost up the contemporary use of AI and systems, getting to know the era in King’s recreation platform. According to the company, this acquisition is a strategic step toward the company’s direction.
King intends to continue building top-tier AI and machine learning skills and teams, allowing a new generation of creative game design, development, and live operations capabilities, along with becoming a center for the world’s best talent in-game AI.
“We are proud to announce the acquisition of Peltarion. Machine learning technology is moving quickly, and by increasing our investments in this field, we expect to deliver even more creative content to our 250 million monthly players* (Q1 2022) across the globe,” said Tjodolf Sommestad, President of King.
Sommestad further added that they believe that the talented Peltarion team, combined with the powerful technology they have developed, will enable them to serve their players even better with more engaging games and content.
Stockholm-based artificial intelligence company Pelrarion was founded by Luka Crnkovic-Friis and Måns Erlandsson in 2004. The company specializes in offering a graphical cloud platform for collaboratively designing, managing, and deploying deep learning systems at scale. NASA, Tesla, iZettle, General Electric, Dell, BMW, Deutsche Bank, Lloyds Banking Group, and the universities of Harvard, MIT, and Oxford have all leveraged Peltarion’s AI technology.
“The scale and reach of King, with iconic franchises like Candy Crush Saga, is a great match for our technology. The opportunities with AI seem to be endless, and we cannot wait to unlock the potential of working together,” said Luka Crnkovic-Friis, Peltarion CEO.