Alphabet’s Google is nearing the signing of a deal to acquire AdHawk Microsystems, a Canada-based start-up specialising in eye-tracking technology, reported Bloomberg.
The acquisition could be valued at $115m, people with knowledge of the matter told the news agency.
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The move forms part of Google’s renewed focus on headsets and smart glasses.
The proposed acquisition includes a contingent payment of $15m, subject to AdHawk meeting certain performance benchmarks, sources said.
The deal could be finalised within the week, although it remains unsigned and could still not materialise, the sources added.
AdHawk, founded in 2017, is engaged in developing eye-tracking technology with custom chips, hardware and software.
The company has created smart glasses called MindLink and provides its technology to other manufacturers, enabling devices to track a user’s gaze.
AdHawk’s components are designed to operate with low power consumption while processing corneal and pupil movements faster than competing sensors.
Previously considered for acquisition by Meta in 2022, AdHawk has garnered investment from the venture arms of major tech corporations such as Samsung, Intel, HP and Sony Group, as well as EssilorLuxottica, Meta’s partner in smart glasses.
Last month, it was reported that Google downsized its cloud division workforce, impacting less than 100 sales operation employees.
This move reflects Google’s strategic shift to prioritise investments in AI and business expansion amidst a slowdown in cloud business growth and rising AI-related expenses.
