Deal is predicted to help Givaudan grow its capabilities in AI
Supplier to the fragrance and beauty industries Givaudan has announced that it has completed its takeover of scent tech firm Myrissi, announced in February.
The acquisition is said to be part of Givaudan’s long term strategy to expand its capabilities in artificial intelligence (AI).
France-headquartered Myrissi, which was founded in 2014, develops patented AI technology capable of translating fragrances into colour patterns and images, enabling “visual and verbal storytelling” to enhance the fragrance creation process.
The terms of the deal have not been disclosed although Givaudan said it funded the transaction from existing resources.