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Japan's TDK acquires US-based smart glasses company SoftEye, source says
TOKYO, June 19 (Reuters) - Japan's TDK (6762.T), opens new tab has acquired U.S.-based SoftEye, which makes software and hardware for smart glasses, said a person familiar with the matter, as the smartphone battery maker looks for growth drivers linked to artificial intelligence.
SoftEye, based in San Diegeo, California, develops technology that facilitates eye tracking and object recognition. Its founder and CEO, Te-Won Lee, was an executive at Samsung Electronics ( opens new tab and Qualcomm (QCOM.O), opens new tab.
The deal is worth less than $100 million, the source said.
Technology firms are looking to hardware beyond smartphones, with Facebook owner Meta (META.O), opens new tab and others focusing on smart glasses that use AI to facilitate interaction between users and the environment.
Social media company Snap (SNAP.N), opens new tab has said it will launch smart glasses for consumers next year, and last month Alphabet's (GOOGL.O), opens new tab 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.
