Samsung acquires Greek technology firm Innoetics
South Korean giant Samsung is acquiring the Greek technology firm Innoetics. The Greek company made the announcement yesterday While no figures were released, the company claims the deal is the highest exit for a startup from a Greek academic and research centre.
Innoetics, founded in 2006 by a group of Greek scientists, develops and sells text-to-speech technologies and is part of the Athena Research & Innovation Centre. Yannis Ioannidis, President of the Centre, said: “We are very proud and excited for this unique success of Innoetics. Athena will build on this experience to promote and support new high-risk out-of-the-box efforts of its researchers, and to augment its capacity to turn research results into efficient technological solutions and new business initiatives.”
This latest acquisition continues the trend of high-technology companies in Greece being bought out by foreign investors.