Google (GOOG) to Acquire Deepmind Technologies for ~$500M (FB)

Google (Nasdaq: GOOG) is looking to further its robotics initiative with the acquisition of Deepmind Technologies.

According to the company's website, DeepMind is a cutting edge artificial intelligence company. We combine the best techniques from machine learning and systems neuroscience to build powerful general-purpose learning algorithms.

Google, which is said to be paying upwards of $500 million for the company, also beat Facebook (Nasdaq: FB) to the punch. Facebook and Deepmind were far along in talks and it wasn't made clear why the deal fell apart.

While it's not clear what Google has planned for Deepmind, the company has formed an ethics board to ensure it doesn't abuse recent tech acquisitions.

Google is indicated lower Monday.

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