(RTTNews) - Microchip Technology Inc. (MCHP), a provider of smart, connected, and secure embedded control solutions, announced that it agreed to acquire Hailo, a provider of accelerated edge AI processors, advanced vision processing solutions, robotics processors and comprehensive AI software flows.
The terms of the transaction are not being disclosed and the transaction is not expected to have a material impact on Microchip's financial results.
The transaction is expected to close towards the end of the current quarter ending September 30, subject to customary closing conditions and regulatory approvals.
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