The solutions from this acquisition would deliver seamless endpoint AI to IIoT, Consumer and Automotive Applications.
A definitive agreement has been set up for Renesas Electronics Corporation with Reality Analytics, Inc. under which the former would acquire the latter in an all-cash transaction. Unanimously approved by the board of directors on both sides, this transaction is expected to close by the end of 2022, subject to shareholders’ and required regulatory approval and other customary closing conditions.
For Renesas’ this acquisition would bring in more flexibility and efficiency for system developers to make their products AIoT (Artificial Intelligence of Things) ready and time to market faster. It also lets the company expand its in-house capability in providing endpoint solutions from both the hardware and software perspectives.
Hidetoshi Shibata, President and CEO of Renesas said, “The acquisition of AI technology is an important milestone to address our customers’ emerging requirements for endpoint intelligence. The addition of Reality AI’s AI solutions to our existing embedded AI portfolios will further solidify our position as a leading AIoT solution provider.”
Stuart Feffer, CEO of Reality AI added, “Having collaborated with Renesas for some time now, we are looking forward to being able to provide customers with more complete solutions – especially in the areas of IIoT, consumer and automotive products where use of machine learning is growing rapidly.”
Technologies from Reality AI, combined with Renesas’ MCU and MPU portfolios can help developers seamlessly apply advanced machine learning and signal processing to complex problems. The acquisition is said to bring an AIoT centre-of-excellence in Maryland as it will extend Renesas’ global software development talent base.