Nanoveu (ASX:NVU) said it acquired Embedded A.I. Systems, following shareholder approval and completion of due diligence, according to a filing with the Australian bourse on Monday.
The firm executed a binding share sale agreement regarding its 100% acquisition of the system-on-chip semiconductor design specialist.
It plans to advance its EyeFly3D platform through the integration of Embedded A.I.'s ultra-low-power system-on-chip for real-time, glasses-free 2D-to-3D conversion.
It will also seek out partnerships with wearables, drones, and internet-of-things device manufacturers to commercialize Embedded A.I.'s Edge technology.
The firm's shares soared 12% in recent trading on Monday.
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