Samsung Electronics has agreed to acquire UK-based Oxford Semantic Technologies, the South Korean technology giant said on Thursday, without disclosing the value of the deal.
Oxford Semantic Technologies specializes in knowledge graph technology, which stores information as an interconnected web of related ideas, mirroring the human reasoning process.
This technology can enhance the personalization of artificial intelligence (AI) applications, including on-device AI on Samsung phones such as those used in Samsung’s Galaxy S24 series.
Personal knowledge graph technology "facilitates hyper-personalized user experiences while ensuring sensitive personal data remains secure on the device," a company statement showed.
With this acquisition, Samsung Electronics aims to obtain advanced engines for personal knowledge graphs that integrate information from various services and apps, enhancing user experience through personalized adaptation based on user preferences and usage patterns.
Oxford Semantic Technologies was established in 2017 by three Oxford University professors Ian Horrocks, Boris Motik, and Bernardo Cuenca Grau. With its AI-centric engine, RDFox, the company collaborates with organizations across Europe and North America involved in the finance, manufacturing, and e-commerce sectors.
Samsung Electronics collaborated with Oxford Semantic Technologies on various projects since 2018, including investment of Samsung Ventures.
“By integrating Samsung’s expertise in user experience and data with our advanced knowledge graph and reasoning technology, we will provide Samsung’s customers with even more sophisticated personalization," said Peter Crocker, CEO of Oxford Semantic Technologies, in the statement.
The technology will be applicable across all of Samsung’s products, extending beyond just mobile devices to televisions and home appliances, according to the statement.
Samsung Electronics announced on July 5 its preliminary earnings estimate for the second quarter of 2024, which is expected between $52.8 billion and $54.3 billion.
Its operating profit is expected to range between $7.5 billion and $7.6 billion.
The profit will mark Samsung's highest profit since the third quarter of 2022. It will indicate over a 12-fold surge compared to the $485.1 million profit the company posted for the same period a year ago, according to the Reuters report.
