- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
