Business News

Movidius opens new Shanghai office

By Business & Finance
16 September 2015
Remi El-Ouazzane, CEO, Movidius

Following the announcement in April by Movidius of a $40m funding round and the creation of up to 100 jobs in Ireland, the company has today announced it is to open a new office in Shanghai.

The expansion will support the increasing demand for ‘machine vision’ capabilities in connected devices such as smart phones, drones and new IoT product categories.

Movidius was founded in Dublin and today also has operations in Silicon Valley and Romania.

Over the past 12 months Movidius has signed new contracts with Chinese original device manufacturers (ODMs), and received a significant investment from Chinese camera giant, the Sunny Optical Technology Group.

Richard Bruton TD, Minister for Jobs, Enterprise and Innovation said: “The opening of Movidius’ first office in Asia is a significant achievement and a clear demonstration of the company’s potential. Movidius is a highly innovative company and a great example of the quality of company emerging from Ireland today, which are being supported by my department through Enterprise Ireland. This move will allow Movidius to focus on growing and developing sales in Asia – ultimately supporting the growth of its business back home in Ireland. I congratulate Movidius and wish it continued success for the future.”

Remi El-Ouazzane, CEO, Movidius noted: “We’re seeing China shift increasingly from a centre of manufacturing to a knowledge leader in technology innovation. Opening a dedicated Asian-region office in Shanghai is necessary to service our existing clients in the region and take advantage of the increasing interest in the Myriad 2 vision platform.”

Julie Sinnamon, CEO, Enterprise Ireland commented: “I warmly congratulate Movidius on the opening of its first office in China. This significant move will allow the company focus on growing and developing sales in China and the wider Asia region. It is very encouraging to see innovative Irish companies growing and developing their presence in important export markets like China. Enterprise Ireland looks forward to continuing to work with Movidius as it expands its international footprint – ultimately sustaining and creating jobs in Ireland.”