Standard Cognition, an autonomous checkout solution provider, has acquired Italy-based Checkout Technologies, a developer of frictionless checkout technology that utilizes AI technology. The deal will increase the size of Standard Cognition’s engineering team and give it a foothold in Europe.
“With this acquisition, Standard gains solid technology and more than a dozen top-shelf AI and machine learning engineers, and gets us an immediate ground presence in Europe,” said Jordan Fisher, Co-Founder and CEO of Standard Cognition in a statement. “More engineering power means we can accelerate our roadmap and bring new innovations to our clients faster.”
Standard Cognition’s autonomous checkout solutions can be installed in existing retail stores, enabling frictionless checkout experiences in traditional retail spaces. Checkout Technologies’ software is designed for similar tasks, and the combined company plans to seek new retail partners worldwide.
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