MEMS-based inertial and environmental sensors are used in a growing number of devices, including smartphones, laptops, tablets, wireless headphones, televisions and remotes, AR and VR headsets, drones, robots and many other consumer and industrial devices. With over 15 years of experience processing sensors and over 100 million devices shipped incorporating their technology to date, Hillcrest Labs is considered a leading innovator in fusing data from multiple sensors to enable intelligent systems. The resulting algorithms and software are used in sensors, such as inertial measurement units (IMUs) and end-user products to enable contextual knowledge and an enriched user experience for a variety of devices, such as precise navigation. autonomous robots and drones.
Hillcrest Labs’ innovative and proven MotionEngine ™ software supports a wide range of merchant sensor chips and is licensed to OEMs and semiconductor companies who can run the software on CEVA DSPs or a variety of RISC processors , including Arm® Cortex®-M and A series and RISC-V based cores. MotionEngine software extends and complements CEVA’s intelligent sensing technology, which includes computer vision and AI processing for cameras and sound processing for microphones. As a result, CEVA DSP licensees now benefit from CEVA’s capabilities as a complete one-stop-shop for processing all classes and types of sensors. Additionally, Hillcrest Labs software technology expands CEVA’s software licensing commitments directly with OEMs and ODMs to enable the addition of a plethora of IMU-based software applications to their merchant SoCs, which adopt a payment system. device-based royalties rather than chips.
Gideon Wertheizer, CEO of CEVA, commented: “We are really delighted to welcome the Hillcrest Labs team to CEVA. Their unparalleled expertise in sensor processing and innovative sensor fusion technology, as well as their proven track record of high volume shipments, aligns perfectly with our strategy of diversification into intelligent sensing. This acquisition presents opportunities for multiple royalty growth vectors, including from OEMs, and allows us to be a pioneer in the emerging areas of AR & VR and different robot classes. With our broad portfolio of connectivity, sound, vision and AI technologies, Hill labs will allow us to continue to redefine the boundaries of our technology solutions for the data-driven world. “
Chad Lucien, President of Hillcrest Labs, said, “We are proud and motivated to join CEVA, one of the most innovative and dynamic technology companies in the industry. As everyday devices increasingly include sensors to enhance user experience through contextual awareness, our sensor processing and sensor fusion technologies perfectly complement smart sensing platforms. existing structures of CEVA. We look forward to the new challenges and opportunities that await us in our new home.
Further details on this transaction and associated financial information will be discussed during CEVA’s second quarter 2019 results conference call, scheduled for August 8, 2019.
For more information on Hillcrest Labs motion detection software, visit https://www.ceva-dsp.com/app/motion-sensing/.
This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they materialize or prove to be incorrect, CEVA’s results could differ materially from those expressed or implied by such statements. and forward-looking assumptions. Forward-looking statements include those relating to the potential benefits of acquiring Hillcrest Labs: (i) Hillcrest Labs software technology expands CEVA’s software licensing commitments directly with OEMs and ODMs to allow for the addition of a plethora of IMU-based software applications for their merchant SoCs, which adopt a device-based rather than chip-based royalty payment system, (ii) acquisition presents opportunities for multiple vectors of royalty growth , including from OEMs, and allows CEVA to be a pioneer in the emerging fields of AR & VR and different classes of robots, and (iii) the acquisition allows CEVA to continue to redefine the limits of its technological solutions for the data-driven world. Risks, uncertainties and assumptions that could cause CEVA’s results to differ include: CEVA’s ability to successfully integrate the operations of Hillcrest Labs; CEVA’s ability to implement its plans, forecasts and other expectations regarding Hillcrest Labs’ business after the transaction is completed and to achieve expected synergies; the disruption of the transaction making it more difficult for CEVA to maintain commercial and operational relationships; the negative effects of the announcement or the completion of the proposed transaction on the market price of CEVA’s ordinary shares or on CEVA’s operating results; unknown liabilities related to the transaction; the risk of litigation or regulatory actions related to the transaction; the ability of CEVA’s DSP cores and other technologies to continue to be strong growth engines for the business; CEVA’s continued success in entering new markets and maintaining its position in existing markets; CEVA’s ability to diversify the company’s royalty streams; the ability of products incorporating CEVA’s technologies to be accepted by the market; the effect of intense industry competition and consolidation, CEVA’s ability to develop and introduce new technologies in a timely and successful manner; and other risks relating to CEVA’s business, including, but not limited to, those described from time to time in its filings with the SEC. CEVA assumes no obligation to update any forward-looking statements or information, which relate to their respective dates.
About CEVA, Inc.
CEVA is the leading licensor of signal processing, sensor fusion and artificial intelligence processors for a smarter, more connected world. We partner with semiconductor companies and OEMs around the world to create energy efficient, smart and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, l industry and IoT. Our ultra-low power IPs for vision, audio, communications and connectivity include complete DSP-based platforms for LTE / LTE-A / 5G baseband processing in handsets, infrastructure and IoT-enabled cellular devices (NB-IoT and Cat-M), Advanced imaging and computer vision for any camera-enabled device, audio / voice / speech and ultra-low power consumption always / sensing applications for multiple markets of IoT. For sensor fusion, our Hillcrest Labs sensor processing technologies provide a wide range of sensor fusion software and IMU solutions for AR / VR, robotics, remote controls and IoT. For Artificial Intelligence, we offer a family of AI processors capable of handling the full range of neural network workloads, on the device. For connectivity, we offer the industry’s most widely adopted IPs for Bluetooth (low power consumption and dual mode) and Wi-Fi (Wi-Fi 4 (802.11n), Wi-Fi 5 (802.11ac) and Wi-Fi -Fi 6 (802.11ax) up to 4×4). Visit us on www.ceva-dsp.com and follow us on Twitter, Youtube, Facebook, LinkedIn and Instagram.
SOURCE CEVA, Inc.