By Mauro Orru

Infineon Technologies said it acquired Stockholm-based startup Imagimob AB in a deal that bolsters the German chip maker's standing in the fast-growing machine learning and artificial intelligence markets.

Infineon made the announcement on Tuesday, though both parties agreed not to disclose financial details.

"Artificial intelligence and machine learning respectively are about to largely enter every embedded application and thus enable new functionalities," said Thomas Rosteck, president of Infineon's Connected Secure Systems division.

"With Imagimob's outstanding platform and its expertise in developing robust machine learning solutions for edge devices, we further strengthen our ability to enable new levels of control and energy efficiency on our products while preserving privacy," he said.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

May 16, 2023 03:31 ET (07:31 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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