Russia's MTS Acquires VisionLabs for $95 Million

MTS, a Russian mobile operator, is acquiring biometrics company VisionLabs for $95.4 million.

MTS, which has been expanding into media and digital services, said the VisionLabs acquisition would reinforce its artificial intelligence portfolio.

VisionLabs had been owned by Russian conglomerate Sberbank, which has reportedly pledged to focus its investment in VisionLabs rival Speech Technology Center.