(RTTNews.com) - QuickLogic Corp. (QUIK) announced it has acquired SensiML Corp. The company said it will fund the acquisition in shares of common stock. SensiML develops strategic and ongoing SaaS (Software as a Service) contracts with customers in its targeted IoT and consumer markets. Initiated as a software group within Intel Corp., SensiML's founders acquired the technology and formed SensiML as an independent company in 2017. SensiML will operate as a division of QuickLogic.
"With the acquisition of SensiML, we have added a stream of SaaS revenue that we anticipate will grow significantly in the coming years as well as new points of leverage for our core semiconductor and IP businesses," said Brian Faith, CEO of QuickLogic.
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