Smart Eye Acquires Affectiva

Eye-tracking technology company Smart Eye and emotion-monitoring software company Affectiva entered an agreement in which Smart Eye will acquire Affectiva for $73.5 million. The acquisition strengthens Smart Eye’s position in the automotive interior sensing market, as well as the media analytics and human factors research markets.

The deal is expected to close before the end of June 2021.

Born out of the MIT Media Lab, Affectiva has been a pioneer in the field of “Emotion AI,” which uses computer vision and audio-processing software to understand human emotional states by tracking and interpreting facial and vocal expressions. Applied to the automotive sector, the technology is known as “interior sensing,” which uses machine learning and computer vision to gain a deep, human-centric understanding of what is happening in a vehicle.

Affectiva reported revenue of $5 million for the year ending on March 31, 2021.

As well as strengthening Smart Eye’s position in the automotive sector, Affectiva brings significant revenues and profits from its media analytics business; the software is used by 70% of the world’s largest advertisers to monitor a consumer’s emotional reactions to brand content and experiences, the companies said in press releases. The technology also complements Smart Eye’s existing eye-tracking proficiencies, which will boost the effectiveness of the software’s applications to both the automotive and media analytics markets, the companies said.

Affectiva’s Boston office grants SmartEye greater access to the U.S. East Coast’s technology ecosystems, and its Cairo office provides access to a skilled local workforce. Smart Eye is headquartered in Gothenburg, Sweden, with offices in Detroit, Tokyo, and China, and a planned facility in Germany.