US chipmaker Microchip Technology to acquire Israeli AI firm Hailo
US-based semiconductor manufacturer Microchip Technology has announced its intention to acquire Israeli AI technology company Hailo. The financial terms of the deal were not disclosed.
Microchip Technology, a US-based semiconductor manufacturer, has announced an agreement to acquire Hailo, an Israeli firm specializing in artificial intelligence processors. The financial details of the acquisition have not been disclosed.
Hailo is known for developing low-power, high-performance AI chips designed for edge computing applications, enabling AI processing directly on devices. The company was founded in 2017 and has attracted significant investment.
Microchip Technology produces a wide range of microcontrollers, analog, and mixed-signal integrated circuits used in various industrial, automotive, and consumer electronics markets. The acquisition aligns with the growing demand for AI capabilities in embedded systems.
This move is expected to enhance Microchip's AI offerings, particularly in the burgeoning field of edge AI, allowing for more intelligent and energy-efficient devices. Hailo's technology is suitable for applications ranging from smart cameras and drones to industrial automation.
The transaction is anticipated to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.