Benzinga | Nov 23, 2021 03:20PM EST

Qualcomm Buys Corum's Client Clay AIR, No Terms Disclosed

Corum announces today that its client, Clay AIR, a leading AI powered hand tracking and gesture recognition technology company, has been acquired by Qualcomm. The acquisition strengthens Qualcomm's XR technology stack with the addition of Clay AIR's highly accurate and power-efficient hardware-agnostic technology and industry-leading team comprised of computer vision, interaction design and machine learning experts.

"We are truly excited about having facilitated this transaction. Qualcomm provides a great new home for an exceptional team that will contribute to a major shift in how we interact with computers, cars, and consumer electronics in the future," stated Serge Jonnaert, Corum Senior Vice President of Technology M&A.

"Qualcomm and Clay AIR are both driven by a common vision of powering a seamless and high-performance metaverse experience for users and developers, and the acquisition of Clay AIR strengthens Qualcomm Technologies' complete XR technology stack, for which hand tracking and gesture recognition technology is essential," explains Thomas Amilien, CEO and Founder of Clay AIR.

Corum is the world's leading educator on tech trends, valuations, growth strategies and Tech M&A. Serge Jonnaert will host a half-day executive Tech M&A seminar, Selling Up Selling Out, on December 14th, 9:00 AM to 1:00 PM MST. To register, visit www.corumgroup.com/events.