As the smartphone battery manufacturer searches for growth drivers associated with artificial intelligence, Japan’s TDK (6762.T), which opens a new tab, announced on Thursday that it has purchased U.S.-based SoftEye, which produces smart glasses hardware and software.
Based in San Diego, California, SoftEye creates technology that makes object detection and eye tracking easier. Te-Won Lee, the company’s creator and CEO, previously held leadership positions at Qualcomm (QCOM.O) and Samsung Electronics (005930.KS).
According to a source with knowledge of the situation, the deal is valued less than $100 million.
With Facebook owner Meta (META.O) launching a new tab and other tech companies concentrating on smart eyewear that utilize AI to enable user-environment interaction, technology companies are turning their attention beyond smartphones.
Alphabet (GOOGL.O) opened a new tab last month, while social media giant Snap (SNAP.N) announced that it will introduce smart eyewear for users the next year. At its developer conference, Google gave a demonstration of smart glasses.
This month, chipmaker Qualcomm also showcased a smart eyewear processor.
Formerly well-known for manufacturing cassette tapes, TDK is today a significant producer of electronic parts and provides batteries for smart glasses.
