Microchip Technology (Nasdaq: MCHP) completed its acquisition of Hailo, an Israeli provider of high-performance edge artificial intelligence (AI) processors.
Financial terms of the deal were not disclosed. Microchip expects the transaction to have no material impact on its financial results.
The acquisition bolsters Microchip's strategy in the edge AI sector. The company will integrate Hailo’s AI accelerators and vision processors with its existing microcontroller and analog product portfolios.
This combination provides comprehensive solutions for automotive systems, industrial automation, and smart cameras.