(Yicai Global) Feb. 16 -- Chinese Internet giant Baidu Inc. [NASDAQ:BIDU] has taken another step in developing its artificial intelligence (AI) business by announcing that it will acquire Raven Tech Co, a Beijing-based AI startup.
Baidu did not disclose the financial terms but said Raven Tech founder Lv Cheng will serve as the general manager of its smart home hardware unit.
Established in 2014, Raven Tech is focused on research concerning human-computer interaction and artificial intelligence. Raven Tech develops smart control centers for homes, says its website.
AI products combining software with hardware will be Baidu's new direction, its CEO Robin Li said previously.