QuickLogic Buys SensiML, Gains AI-based SaaS Toolkit Platorm
Zacks Investment Research | Jan 06, 2019 08:58PM ET
QuickLogic Corporation (NASDAQ:QUIK) recently acquired SensiML Corporation in an all-stock deal. Notably, SensiML will continue its operations as a separate division of QuickLogic. However, financial details of the deal have been kept under wraps.
The buyout is anticipated to empower QuickLogic’s product portfolio with machine-learning (ML) tools required to devise embedded algorithms.
Notably, the integrated algorithms enhance performance of microcontrollers (MCUs) and SoCs (system-on-a-chip microchips). These MCUs and SoCs find ample application in smart edge computing devices.
SensiML’s focus on commercialization and development of SaaS-based ML tool suite, SensiML Analytics Toolkit utilizing artificial intelligence (AI) driven automation methods is commendable. The Toolkit’s strength in offering sturdy integrated algorithms to support Internet of Things (IoT) based MCUs and SoCs is a key catalyst.
QuickLogic offers sensor processing solutions including FPGAs (Field Programmable Gate Arrays) as part of hardware products and software-based algorithm solutions. The company’s business complements that of SensiML, which is a positive.
In this regard, management is optimistic about the cross-leverage opportunity to integrate SensiML software suite with QuickLogic eFPGA IP and QuickAI platform.
Notably, SensiML will continue to support third-party SoCs apart from that of QuickLogic’s SoCs and other solutions. Management anticipates positive EBITDA for SensiML unit in fiscal 2019.
Following the news, shares of QuickLogic increased 7.3%, with the stock price closing at approximately 91 cents in the last trading session. QuikLogic stock has lost 52.3% in the past year compared with Original post
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