Market Overview

ARM Holdings Gains 2% After Company Acquisition Of Apical

Share:
ARM Holdings Gains 2% After Company Acquisition Of Apical

Shares of ARM Holdings plc (ADR) (NASDAQ: ARMH) were trading higher by more than 2.8 percent Wednesday morning after the company announced it has agreed to acquire Apical Limited, a global leader in imaging and embedded computer vision intellectual property products.

As part of the agreement, ARM will pay $350 million in cash. The company expects the acquisition to accelerate its ecosystem's growth into new markets such as connected vehicles, robotics, smart cities, security systems, industrial/retail applications and Internet of Things (IoT) devices.

ARM added that Apical technology extends its product portfolio in existing markets such as smartphones and cameras.

Related Link: HC2 Holdings Offers To Acquire The Andersons At 43% Premium

"Computer vision is in the early stages of development and the world of devices powered by this exciting technology can only grow from here," said Simon Segars, CEO, ARM. "Apical is at the forefront of embedded computer vision technology, building on its leadership in imaging products that already enable intelligent devices to deliver amazing new user experiences. The ARM partnership is solving the technical challenges of next generation products such as driverless cars and sophisticated security systems. These solutions rely on the creation of dedicated image computing solutions and Apical's technologies will play a crucial role in their delivery."

"Apical has led the way with new imaging technologies based on extensive research into human vision and visual processing," said Michael Tusch, CEO and founder, Apical. "The products developed by Apical already enable cameras to understand their environment and to act on the most relevant information by employing intelligent processing. These technologies will advance as part of ARM, driving value for its partners as they push deeper into markets where visual computing will deliver a transformation in device capabilities and the way humans interact with machines."

Posted-In: Apical Limited ARM Holdings Imaging Michael Tusch Simon SegarsM\u0026A News Movers

 

Related Articles (ARMH)

View Comments and Join the Discussion!

Barclays Initiates Clean Harbors At Overweight, US Ecology At Equal Weight

Mid-Morning Market Update: Markets Mostly Lower; Lowe's Beats Q1 Expectations