“They were already an unstoppable force in AI, and I knew we had to be part of their team”
– MLDB.ai’s Jeremy Barnes
Both companies are Montreal-based and have an artificial intelligence (AI) focus, and MLDB.ai’s open-source platform and deep expertise in creating machine learning solutions will be a great complement to Element AI’s existing technical and human infrastructure. The deal includes all personnel, complete product line, and customer base.
The news comes just a few short months after iPerception’s acquisition of Datacritic’s ad tech division, a deal that included their RTB Optimizer, Audience Optimizer, Yield Optimizer, Viewability Predictor, and RTBkit, but excluded their Machine Learning Database, which continued to operate independently as MDLB.ai.
As part of this new acquisition, MLDB.ai will continue to be developed as an open-source project with the significantly expanded resources that Element AI has available. MLDB.ai’s Pro version will also be open-sourced as will some plugins associated with the processing of LiDAR datasets.
— MLDB.ai (@mldbai) February 16, 2017
“When I first started talking to Element AI, I realized that they were already an unstoppable force in AI, and I knew we had to be part of their team” said Jeremy Barnes, founder and CEO of MLDB.ai. “They have solutions to all of the hard problems in building a sizeable and viable business in the AI space. The team couldn’t be more excited to continue their mission with the resources and talent only Element AI can provide.”
Element AI was launched earlier this year to help organizations implement an “AI-First” strategy. Founded by serial entrepreneurs Jean-François Gagné and Nicolas Chapados, along with Yoshua Bengio, a co-father of Deep Learning technology, Element AI enables any organization to develop their own artificial intelligence solutions. Microsoft Ventures invested in Element AI last December.
“We know a good thing when we see it,” said Element AI CEO Jean-François Gagné. “Element is affiliated with a world-renowned network of top scientists and the best academic labs and universities; so we are always on the lookout for an opportunity to bolster our in-house capabilities. MLDB.ai with their proven track record of success and innovation in the machine learning space is a natural fit for Element AI. We’re going to do great things together for AI, our customers and the world.”
“On a more personal note, this is the team I want to work with and it’s an ideal position for both me and my fellow MLDBers. I couldn’t be happier with the outcome,” Barnes told MTLinTECH.