08:47 AM EDT, 04/15/2024 (MT Newswires) -- Microchip Technology ( MCHP ) said Monday that it has acquired Neuronix AI Labs, a provider of AI-based techniques to reduce power, size and calculations in heavy computer tasks.

Financial terms of the deal were not disclosed.

Microchip said the acquisition will allow the company to "develop cost-effective, large-scale edge deployments of components designed for use in computer-vision applications on systems that have cost, size and power constraints."