On June 9, Renesas Electronics announced that it has entered into a definitive agreement with embedded AI solutions provider Reality Analytics, Inc. (Reality AI) under which Renesas will acquire Reality AI in an all-cash transaction. the transaction has been unanimously approved by the boards of directors of both companies and, subject to shareholder and required regulatory approvals and other customary closing conditions, is expected to close by the end of 2022.
Reality AI, headquartered in Columbia, Maryland, USA, is described as providing a broad range of embedded AI and miniature machine learning (TinyML) solutions for advanced non-visual sensing in automotive, industrial and consumer products.
Renesas Electronics said that by working with its partners, Renesas Electronics continues to provide the development environment and software that enables it to embed AI into its low-power, highly secure MCU (microcontroller) and MPU (microprocessor) products. The acquisition of Reality AI enables Renesas Electronics to expand its internal capabilities to provide comprehensive and highly optimized endpoint solutions from both a hardware and software perspective. This enables system developers to implement endpoint intelligence in a wide range of IIoT, consumer electronics and automotive applications.
In addition to expanding embedded AI technology, key IP, software and tools, the acquisition will also establish an AIoT development center of excellence in Maryland by drawing on Reality AI's expertise.
The importance and demand for endpoint data is growing rapidly at an unprecedented scale, said Hidetoshi Shibata, President and CEO of Renesas Electronics. Adding Reality AI's AI solutions to the company's existing lineup of embedded AI products will further strengthen the company's position as an AIoT solution provider.
