CHANDLER (dpa-AFX) - On Monday, Microchip Technology Incorporated (MCHP), a semiconductor supplier, announced the completion of its acquisition of Hailo, a provider of accelerated edge AI processors.
The acquisition advances Microchip's strategy to enable intelligent, connected systems at the edge and expands its ability to deliver complete solutions for Edge AI, machine vision, robotics and Physical AI applications. The terms of the transaction were not disclosed, and the transaction is not expected to have a material impact on Microchip's financial results.
As AI moves from testing to real-world use, developers need solutions that combine AI processing, embedded systems, connectivity, security, power efficiency, and long-term support. By combining Microchip's embedded systems portfolio with Hailo's AI and vision technologies, Microchip can help customers move faster from prototypes to production.
On the Nasdaq, the shares were trading 1.56 percent up at $74.41.
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