- STMicroelectronics NV STM announced a deal with Edge Computing and Artificial Intelligence software specialist Cartesiam to acquire its assets (including its IP portfolio) and transfer and integrate its employees.
- The financial terms of the transaction were not disclosed.
- The addition of Cartesiam's machine learning technology to STMicroelectronics' existing solutions will provide the best edge-AI solution portfolio on the market for any customer looking to bring additional innovation to their offering, STMicroelectronics President Claude Dardanne said.
- STMicroelectronics NV held $4.2 billion in cash and equivalents as of April 3, 2021.
- Price action: STM shares traded lower by 0.99% at $34.97 in the premarket session on the last check Wednesday.
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