Mitek Systems Inc. has acquired France-based A2iA SA in a cash-and-stock deal valued at €42.5 million.
A2iA, an artificial intelligence and image analysis software company, provides software that processes checks, IDs and documents for U.S. banks as well as 100% of U.K. banks, 90% of French banks and 90% of Brazilian banks, the company said.
With the addition of A2iA's research labs, the existing Mitek Labs team will double in size and form the largest private research group of PhD scientists in computer vision, machine learning and artificial intelligence for the industry. Mitek Labs has been the source of the Mitek Systems' 39 patents.
A2iA Corp. is the U.S. unit of A2iA.
