Samsung agrees to acquire British startup Oxford Semantic for AI

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July 17, 2024 7:06 PM EDT

FILE PHOTO: A man walks past a signboard of Samsung Electronics in front of the Samsung Electronics Nano City Hwaseong Campus in Hwaseong, South Korea, July 8, 2024. REUTERS/Kim Soo-hyeon/File Photo

SEOUL (Reuters) - Samsung Electronics said on Thursday it agreed to acquire Oxford Semantic Technologies, a British startup specialising in technology that can be used for more sophisticated artificial intelligence (AI) applications.

Samsung did not disclose the value of the deal.

Oxford Semantic Technologies specialises in knowledge graph technology, which stores information as an interconnected web of related ideas and mirrors the human reasoning process, and can be used to better personalise AI applications such as on-device AI on Samsung phones, Samsung said in a statement.

(Reporting by Joyce Lee; Editing by Himani Sarkar)


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