Nanoveu acquires Embedded AI Systems to advance EyeFly3D content platform
Singapore-based technology company Nanoveu (ASX: NVU) has secured an agreement to acquire system-on-a-chip (SoC) semiconductor business Embedded AI Systems (EMASS).
The consideration for the deal is set at $5 million worth of Nanoveu shares to EMASS shareholders priced at $0.029 each, plus the issue of 83.3 million performance rights that will convert to a pre-determined number of shares upon the achievement of certain milestones.
The acquisition is believed to be a key move in Nanoveu’s strategic plan, enabling the integration of the cutting-edge, ultra-low-power EMASS SoC technology with its own proprietary EyeFly3D platform.
Increased market reach
EyeFly3D combines film and software to transform 2D images on regular digital displays into compelling 3D content without the need for special glasses.
The SoC is expected to increase the platform’s market reach by bringing real-time 2D-to-3D conversions to a greater range of smartphones, tablets and large-screen TVs.
Nanoveu plans to use the SoC-enhanced EyeFly3D platform to unlock new commercial opportunities across a diverse range of industries including medical devices, autonomous driving, education, military, digital signage, retail and marketing.
The company is aiming to diversify its revenue streams by offering the technology directly to manufacturers of wearables, fitness trackers, drones and advanced Internet of Things devices.
Growing demand
Nanoveu chief executive officer Alfred Chong said the EMASS acquisition would complement the growing demand for EyeFly3D.
“As recent market interest in our EyeFly3D technology has grown, we embarked on a search for the best-in-class solution to further increase commercialisation opportunities,” he said.
“The agreement to acquire EMASS marks a pivotal moment for Nanoveu, positioning us to deliver a superior glasses-free 3D experience across a range of devices and industries.”
He said the acquisition would enable Nanoveu to capitalise on the rising global demand for high-performance SoCs capable of supporting more complex artificial intelligence (AI) computations on low-power devices, providing Nanoveu with a unique and competitive edge.
Low power consumption
The EMASS SoC has been built on reduced instruction set computing architecture, known for its simplicity, extensibility and low power consumption.
It has the potential to bring advanced AI capabilities to applications where electricity supply and computational power are typically low, allowing devices to perform multiple complex tasks by consuming very little power in battery-operated or energy-sensitive applications.
Research shows the demand for more efficient SoCs is rapidly expanding as technologies such as AI, 5G, 3D-rendering and augmented reality require more processing power from smaller devices without the need for cloud processing.