Standard Cognition acquires Checkout Technologies to seed Europe presence
Category: #technology  By Hrishikesh Kadam  Date: 2020-05-20
  • share
  • Twitter
  • Facebook
  • LinkedIn

Standard Cognition acquires Checkout Technologies to seed Europe presence

US-based startup Standard Cognition has reportedly announced its acquisition of Italian competitor, Checkout Technologies. This alliance with the Milan-based company has been undertaken in an effort to boost the size of its engineering team as well as ensure its expansion across the European market.         

Standard’s co-founder and CEO, Jordan Fisher, commented on the acquisition, stating that this move would allow the company to attain solid technology, a robust team of highly skilled machine learning and AI engineers, as well as a strong presence in Europe. He claimed that the addition of this engineering power would aid significantly in accelerating Standard’s autonomous checkout roadmap and ensure faster delivery of novel innovations to customers.

Checkout Technologies’ founder and CEO, Enrico Pandian also expressed his views on the alliance. He has reportedly acknowledged Standard’s position as a clear leader in the automated checkout space and expressed anticipation at becoming a part of their team. Alluding to the common retail issues being addressed by both companies, Mr. Pandian has said that, together, the firms can make significant inroads in the global retail business space.

Checkout Technologies’ largest investor, Pariter Partners has also acknowledged the merits of the deal. In fact, partner and founder Jari Ognibeni has reportedly claimed that this acquisition will help highlight the deep tech expertise and vibrant startup community across Italy, which is quickly becoming the most lucrative foundation for expansion in the European market.

According to Fisher, Milan is an evolving hub for AI and machine learning R&D efforts. He went on to say that Standard Cognition is looking forward to bolstering its presence across Europe with this acquisition, and by investing in Milan’s burgeoning technology landscape.

For the uninitiated, Standard Cognition is one of the first and best-funded startups to begin operations in the autonomous checkout business space. It is also the first company to open a cashierless store, based in San Francisco, and has earned recognition from Fast Company magazine as “One of the World’s 50 Most Innovative Companies”.

Source Credit: https://www.globenewswire.com/news-release/2020/05/19/2035863/0/en/Standard-Cognition-Acquires-Checkout-Technologies-Accelerating-Autonomous-Checkout-Roadmap-and-Strengthening-European-Presence.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Hrishikesh Kadam    

Hrishikesh Kadam

A graduate in electronics and telecommunication engineering, Hrishikesh Kadam has always found writing fascinating. Driven by a never-ending passion for content creation combined with a bit of experience in writing personal blogs, Hrishikesh blends his technical knowl...

Read More

More News By Hrishikesh Kadam

Xact Data Discovery buys out London-based Anexsys Group Limited
Xact Data Discovery buys out London-based Anexsys Group Limited
By Hrishikesh Kadam

Leading international eDiscovery provider, Xact Data Discovery, has reportedly announced that it has acquired the London-based eDiscovery services company, Anexsys Group Limited. According to David Moran, the President and COO of XDD, the acquisitio...

Globant buys gA to reinforce expertise in digital transformation
Globant buys gA to reinforce expertise in digital transformation
By Hrishikesh Kadam

The digitally native technology services provider, Globant has recently confirmed that it has acquired gA to strengthen its position in the delivery of digital and cognitive transformation. One of the leading companies in digital and cloud transforma...

Nokia provides 5G cloud-native core network services to Ooredoo Qatar
Nokia provides 5G cloud-native core network services to Ooredoo Qatar
By Hrishikesh Kadam

Finnish telecom and consumer electronics major, Nokia, has reportedly announced Ooredoo Qatar’s roll out of commercial 5G services via the deployment of Nokia’s cloud-native core network. The launch of this network has effectively enabled...