TDK Acquires SoftEye: A Strategic Move into AI-Powered Smart Glasses
2 Sources
2 Sources
[1]
Japan's TDK acquires US-based smart glasses company SoftEye, source says
TOKYO, June 19 (Reuters) - Japan's TDK (6762.T), opens new tab has acquired U.S.-based SoftEye, which makes software and hardware for smart glasses, said a person familiar with the matter, as the smartphone battery maker looks for growth drivers linked to artificial intelligence. SoftEye, based in San Diegeo, California, develops technology that facilitates eye tracking and object recognition. Its founder and CEO, Te-Won Lee, was an executive at Samsung Electronics (005930.KS), opens new tab and Qualcomm (QCOM.O), opens new tab. The deal is worth less than $100 million, the source said. Technology firms are looking to hardware beyond smartphones, with Facebook owner Meta (META.O), opens new tab and others focusing on smart glasses that use AI to facilitate interaction between users and the environment. Social media company Snap (SNAP.N), opens new tab has said it will launch smart glasses for consumers next year, and last month Alphabet's (GOOGL.O), opens new tab Google demonstrated smart glasses at its developer conference. Chipmaker Qualcomm also demonstrated a processor for smart glasses this month. TDK, which was once well known for its cassette tapes, is a major manufacturer of electronic components and supplies batteries for smart glasses. Reporting by Sam Nussey; Editing by Christopher Cushing Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Artificial IntelligenceMedtech
[2]
Japan's TDK acquires US-based smart glasses company SoftEye
Technology firms are looking to hardware beyond smartphones, with Facebook owner Meta and others focusing on smart glasses that use AI to facilitate interaction between users and the environment. Social media company Snap has said it will launch smart glasses for consumers next year, and last month Alphabet's Google demonstrated smart glasses at its developer conference.Japan's TDK said on Thursday it has acquired U.S.-based SoftEye, which makes software and hardware for smart glasses, as the smartphone battery maker looks for growth drivers linked to artificial intelligence. SoftEye, based in San Diego, California, develops technology that facilitates eye tracking and object recognition. Its founder and CEO, Te-Won Lee, was an executive at Samsung Electronics and Qualcomm. The deal is worth less than $100 million, a source familiar with the matter said. Technology firms are looking to hardware beyond smartphones, with Facebook owner Meta and others focusing on smart glasses that use AI to facilitate interaction between users and the environment. Social media company Snap has said it will launch smart glasses for consumers next year, and last month Alphabet's Google demonstrated smart glasses at its developer conference. Chipmaker Qualcomm also demonstrated a processor for smart glasses this month. TDK, which was once well known for its cassette tapes, is a major manufacturer of electronic components and supplies batteries for smart glasses.
Share
Copy Link
Japan's TDK, a major electronic component manufacturer, has acquired SoftEye, a US-based company specializing in smart glasses technology. This acquisition marks TDK's strategic expansion into AI-driven hardware beyond smartphones.
TDK's Strategic Acquisition of SoftEye
Japan's TDK Corporation, renowned for its electronic components and smartphone batteries, has made a significant move in the artificial intelligence (AI) and smart glasses sector. The company has acquired SoftEye, a US-based firm specializing in software and hardware for smart glasses, for less than $100 million 12.
SoftEye: A Key Player in Smart Glasses Technology
SoftEye, headquartered in San Diego, California, has developed cutting-edge technology that enables eye tracking and object recognition in smart glasses. The company's expertise is further bolstered by its founder and CEO, Te-Won Lee, who brings valuable experience from his previous executive roles at tech giants Samsung Electronics and Qualcomm 12.
TDK's Strategic Shift
Source: Reuters
This acquisition marks a strategic shift for TDK, a company once famous for its cassette tapes. As a major manufacturer of electronic components and supplier of batteries for smart glasses, TDK is now positioning itself at the forefront of AI-driven hardware innovation 1. The move reflects TDK's search for growth drivers linked to artificial intelligence, signaling its intent to expand beyond its traditional markets.
The Growing Smart Glasses Market
Source: Economic Times
TDK's acquisition of SoftEye comes at a time when major technology firms are increasingly focusing on hardware beyond smartphones. Companies like Meta (formerly Facebook) are developing smart glasses that leverage AI to enhance user interaction with their environment 12. This trend is further evidenced by recent announcements and demonstrations from other tech giants:
- Snap Inc. has announced plans to launch consumer-oriented smart glasses next year 12.
- Alphabet's Google recently showcased smart glasses at its developer conference 12.
- Qualcomm, a leading chipmaker, has demonstrated a processor specifically designed for smart glasses 1.
Implications for the Tech Industry
The acquisition highlights the growing importance of AI-powered wearable technology in the tech industry. As companies seek to create more immersive and interactive experiences for users, smart glasses are emerging as a key battleground for innovation. TDK's move into this space suggests that traditional component manufacturers are also recognizing the potential of AI-integrated hardware.
Future Prospects
With this acquisition, TDK is well-positioned to capitalize on the growing smart glasses market. By combining SoftEye's expertise in eye tracking and object recognition with its own capabilities in electronic components and battery technology, TDK could play a crucial role in shaping the future of AI-powered wearable devices. As the industry continues to evolve, we can expect to see more companies investing in similar technologies and partnerships to stay competitive in this rapidly advancing field.
Summarized by
Navi
[2]
Databricks Secures $1 Billion Funding at $100 Billion Valuation, Targets AI Database Market
Databricks raises $1 billion in a new funding round, valuing the company at over $100 billion. The data analytics firm plans to invest in AI database technology and an AI agent platform, positioning itself for growth in the evolving AI market.
11 Sources
Business
10 hrs ago
11 Sources
Business
10 hrs ago
SoftBank's $2 Billion Investment in Intel: A Strategic Move in the AI Chip Race
SoftBank makes a significant $2 billion investment in Intel, boosting the chipmaker's efforts to regain its competitive edge in the AI semiconductor market.
22 Sources
Business
18 hrs ago
22 Sources
Business
18 hrs ago
OpenAI Launches Affordable ChatGPT Go Plan in India, Eyeing Global Expansion
OpenAI introduces ChatGPT Go, a new subscription plan priced at ₹399 ($4.60) per month exclusively for Indian users, offering enhanced features and affordability to capture a larger market share.
15 Sources
Technology
18 hrs ago
15 Sources
Technology
18 hrs ago
Microsoft Integrates AI-Powered 'COPILOT' Function into Excel Cells
Microsoft introduces a new AI-powered 'COPILOT' function in Excel, allowing users to perform complex data analysis and content generation using natural language prompts within spreadsheet cells.
8 Sources
Technology
10 hrs ago
8 Sources
Technology
10 hrs ago
Adobe Revolutionizes PDF with AI-Powered Acrobat Studio
Adobe launches Acrobat Studio, integrating AI assistants and PDF Spaces to transform document management and collaboration, marking a significant evolution in PDF technology.
10 Sources
Technology
10 hrs ago
10 Sources
Technology
10 hrs ago
Your Daily Dose of Curated AI News
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.
