Japan's TDK acquires US-based smart glasses company SoftEye
TOKYO :Japan's TDK said on Thursday it has acquired U.S.-based SoftEye, which makes software and hardware for smart glasses, as the smartphone battery maker looks for growth drivers linked to artificial intelligence.
SoftEye, based in San Diego, California, develops technology that facilitates eye tracking and object recognition. Its founder and CEO, Te-Won Lee, was an executive at Samsung Electronics and Qualcomm.
The deal is worth less than $100 million, a source familiar with the matter said.
Technology firms are looking to hardware beyond smartphones, with Facebook owner Meta and others focusing on smart glasses that use AI to facilitate interaction between users and the environment.
Social media company Snap has said it will launch smart glasses for consumers next year, and last month Alphabet's Google demonstrated smart glasses at its developer conference.
Chipmaker Qualcomm also demonstrated a processor for smart glasses this month.
TDK, which was once well known for its cassette tapes, is a major manufacturer of electronic components and supplies batteries for smart glasses.
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