According to reports in Russian local media, China's Huawei recently completed its acquisition of Vokord, a security technology company based in Moscow.
It is said that Huawei invested USD50 million in this acquisition and it mainly targets Vokord's technology patents and R&D talents in the facial recognition system sector.
In addition, a public legal person registration file shows that Huawei's subsidiary in Russia and its Hong Kong-headquartered company Huawei Digital Technologies will become the owners of Vokord's facial recognition and device patent intellectual properties.
Prior to this, Vokord already applied to transfer its intellectual properties to an unknown entity on April 1, 2019. At present, some of Vokord's employees are transferring to Huawei.
Founded in 1999, Vokord is formed by a team of 120 mathematicians and engineers. The company has 20 years of development experience in video surveillance camera and software design sector and it can apply its technologies into commercial use. By far, Vokord has 11 device patents and six software patents.
