The two companies announced an agreement for NAVER to acquire the Xerox Research Centre Europe in Grenoble, France. The French Works Council’s consultation on this project has now been completed and the agreement is expected to close in the third quarter, subject to fulfillment of certain customary conditions.
Based in Seongnam, South Korea, NAVER is Korea’s leading Internet company, operating the nation’s top search portal “NAVER,” and other innovative services in the global market such as the mobile messenger LINE, video messenger SNOW and community app BAND.
Founded in 1993, the Xerox Research Centre Europe is located just outside Grenoble, often dubbed the Silicon Valley of Europe. The centre has focused its research in artificial intelligence (AI), machine learning, computer vision, natural language processing and ethnography.