Fabless semiconductor company Ceva Inc. (Nasdaq:CEVA); LSE:CVA) has announced the acquisition of the Hillcrest Laboratories, Inc. (Hillcrest Labs) business from InterDigital, Inc. Hillcrest Labs provides software and components for sensor processing in consumer and IoT devices. Ceva says that the acquisition bolsters its smart sensing technology portfolio, which now includes sound, vision and motion sensing, complemented with specialized processors for implementing AI at the edge.
Financial details of the acquisition were not disclosed. Ceva says that details of the transaction will be discussed during its second quarter 2019 earnings conference call, scheduled for August 8, 2019.
"MEMS-based inertial and environmental sensors are used in an increasing number of devices, including smartphones, laptops, tablets, wireless earbuds, TV and remote controls, AR and VR headsets, drones, robots and many other consumer and industrial devices. With more than 15 years' experience in sensor processing and more than 100 million devices shipped incorporating their technology to date, Hillcrest Labs is regarded as a leading innovator in the fusion of data from multiple sensors to enable intelligent systems. The resulting algorithms and software are used in sensors, such as Inertial Measurement Units (IMU), and end user products to enable contextual awareness and an enriched user experience for a variety of devices, such as the precise navigation of autonomous robots and drone," the announcement states.
Ceva CEO Gideon Wertheizer said, "We are truly excited to welcome the Hillcrest Labs team to Ceva. Their unrivalled expertise in sensor processing and innovative sensor fusion technology, as well as proven track record of high-volume shipments align perfectly with our diversification strategy in the smart sensing domain. This acquisition presents opportunities for multiple royalty growth vectors, including from OEMs, and enables us to be a pioneer in the emerging fields of AR and VR and the different classes of robots."
Published by Globes, Israel business news - en.globes.co.il - on July 23, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019