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Microchip Acquires Israeli AI Chipmaker Hailo in Rescue Deal
Microchip Technology is acquiring Israeli AI chip startup Hailo after the latter faced financial difficulties and a failed SPAC merger. The deal grants Microchip access to Hailo’s Edge AI technology and customer base, while Hailo gains support to scale globally.
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What happened
- 01Microchip acquires Israeli AI chipmaker Hailo amid Hailo’s financial distress.
- 02Hailo faced liquidity issues, emergency loans, staff cuts, and a failed SPAC merger.
- 03Hailo raised $340 million since 2017 with a last valuation over $1 billion.
- 04Delek Automotive plans to write off most of its investment in Hailo.
- 05Microchip gains Hailo’s IP, Edge AI chips, 100+ customers, and 10,000 developers.
- 06Deal expected to close by September 30, pending regulatory approvals.
The acquisition is expected to close by September 30, with financial terms undisclosed but reportedly low.
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