Amazon to buy AI company Perceive from Xperi
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- Amazon (NASDAQ:AMZN) has agreed to acquire Perceive Corporation, the developer of Ergo AI processor, from San Jose, California-based technology firm Xperi (NYSE:XPER) for $80M in cash.
- Perceive, in which Xperi (XPER) has about 76% stake, focuses on delivering edge inference solutions.
- According to a regulatory filing late Friday, the deal, structured as an asset purchase agreement, included specific clauses that prevent Xperi (XPER) and Perceive from engaging in certain business activities for three years after the purchase.
- Established in 2018, Perceive has 44 employees, most of whom are expected to join Amazon (AMZN) after the acquisition, tech publication Geek Wire reported.
- The agreement signed on Wednesday is expected to close within 90 days, and in the case of regulatory conditions, the closing can face a delay of up to six months.