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NIKE announces acquisition of Invertex.

M2 EQUITYBITES-April 10, 2018-NIKE announces acquisition of Invertex

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Global footwear company NIKE Inc (NYSE: NKE) on Monday announced the acquisition of Invertex Ltd, a computer vision firm based in Tel Aviv, Israel.

Financial details of this acquisition were not available. Reportedly, this acquisition will strengthen Nike's digital technology and talent as part of its Consumer Direct Offense.

According to NIKE, the acquisition of Invertex will deepen its bench of digital talent and further its capabilities in computer vision and artificial intelligence as it creates the most compelling Nike Consumer Experience at every touchpoint.

NIKE is a leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned NIKE subsidiaries include Converse Inc, which designs, markets and distributes athletic lifestyle footwear, apparel and accessories; and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.

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Publication:M2 EquityBites (EQB)
Date:Apr 10, 2018
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