Pongr, a provider of image recognition technology, is acquiring a broad intellectual property portfolio from Sightec, a research and development company focusing on the analysis of video and still images at the subpixel level.
The acquisition will enable Pongr to develop technology that will “alter the way brands leverage the ever-expanding amount of photos shared around the world” via social networks, according to Pongr. Even the largest brands struggle to monetize the pictures people post to sites such as Twitter, Facebook, Instagram, tumblr and Pinterest, Pongr said.
The acquisition significantly expands Pongr's current intellectual property and software product suite and enables the company to offer image enhancing and analysis solutions that can detect people and objects within images at levels not seen before. These offerings will help brands uncover highly relevant advertising and marketing opportunities, gain consumer insights and create opportunities for instant social and mobile engagement with consumers.
"Billions of photos are shared by consumers every month, many of which contain brands or products consumers love or want, yet they remain one of the most underutilized and non-monetized aspects of marketing, especially within the social and mobile space," Jamie Thompson, Pongr CEO and co-founder, said in a statement.
The addition of Sightec's scientists and technology “will enable us to unlock huge value hidden within photos at tremendous scale and accuracy and give brands engagement opportunities they've never had before," Thompson said.
Originally developed for military security camera systems, Sightec's technology is capable of improving image quality 10 times over typical image enhancement results, Pongr says. The company will tune the technology to make it work for brands and products, and adapting the subpixel registration capabilities for wide-scale brand image detection.