TOKYO, Japan, February 2019 - Seiko Epson Corporation (TSE: 6724, "Epson") has purchased shares in venture company Cross Compass Ltd. and has begun a partnership focusing on artificial intelligence (AI).
Cross Compass, established in 2015, sees artificial intelligence as a next-generation core technology. It uses deep learning techniques to analyze data, provide AI consulting services, and develops and provides algorithms and neural networks. Cross Compass has earned a particularly strong reputation among its customers in the manufacturing industry. Cross Compass also provides Manufacturing-IX (M-IX), an integrated development environment (IDE) for the manufacturing industry that enables easy implementation of AI without requiring AI expertise.
Epson, as stated in its Epson 25 Corporate Vision, seeks to transform the future of manufacturing by strengthening its business infrastructure as a manufacturing company, driving advances and efficiency improvements in manufacturing and production control, and innovating manufacturing processes. The development, application, and implementation of AI are seen as critical for achieving this vision.
By forging capital and business ties with Cross Compass, Epson seeks to combine the unique technologies of both companies to achieve business synergies that will drive manufacturing process innovations and advances in product intelligence.
The acquisition of shares will have a negligible effect on Epson's financial results.
About Cross Compass
|Company Name||Cross Compass Ltd.|
|Head office||2-9-11 Shinkawa, |
PMO Hacchobori-Shinkawa Building, 9th Floor
Chuo-ku, Tokyo, Japan 104-0033
|Representative||Katsunobu Suzuki, President|
|Established||April 10, 2015|
|Main businesses||Artificial intelligence algorithm development, development platform development, and technical consulting|
|Number of employees||38 (January 1, 2019)|
See the following link for details on Cross Compass:https://www.xcompass.com/en/