Facebook acquires language processing startup Bloomsbury AI

By Jonathan Dyble
Facebook has announced that it has agreed to acquire a London-based technology company called Bloomsbury AI in an effort to bolster its language process...

Facebook has announced that it has agreed to acquire a London-based technology company called Bloomsbury AI in an effort to bolster its language processing capabilities.

Backed by IQ Capital, UCL Technology fund and a number of other investors, Bloomsbury AI has developed software that it claims can read text documents and answer questions about the content, driven by an overriding emphasis on natural language processing.

See also:

“The Bloomsbury team has built a leading expertise in machine reading and understanding unstructured documents in natural language in order to answer any question,” said Facebook.

“Their expertise will strengthen Facebook’s efforts in natural language processing research, and help us further understand natural language and its applications.

Facebook also revealed that the acquisition will help to expand its presence in London, with the Bloomsbury AI experts set to join Facebook’s existing team situated there.

“We look forward to welcoming them to Facebook and we can't wait to see what we build together,” the company continued.

Although the company itself provided no exact figures, a range of sources have cited figures varying between $23mn and $30mn, giving an indication as to the size of the deal.

Share

Featured Articles

NTT and Qualcomm team up to drive AI at the edge

NTT and Qualcomm are teaming up to accelerate Private 5G adoption across digital devices, enabling AI at the edge and driving digital transformation

Building Cyber Resilience into ‘OT in Manufacturing’ webinar

Join Acronis' webinar, Building Cyber Resilience into ‘OT in Manufacturing’, 21st September 2023

Google at 25: From a Search pioneer to AI breakthroughs

Technology Magazine explores how the tech giant went from being based in a California garage to a pioneer in technologies from AI to quantum computing

McKinsey: Nine actions for CIOs and CTOs to embrace gen AI

AI & Machine Learning

OpenAI ChatGPT Enterprise tier drives digital transformation

AI & Machine Learning

Sustainability LIVE: A must-attend for technology leaders

Digital Transformation