EDGE3 Technologies Announces Acquisition of SensorBit Systems
Phoenix, February 17, 2015 – EDGE3 Technologies, the leader in vision analytics technology, today announced it has completed the acquisition of Austin-based SensorBit Systems, a company developing a revolutionary sensor technology that is capable of detecting trace amounts of complex chemical vapors in seconds using a mobile device or other small form factor.
The combination of EDGE3 and SensorBit, each an innovator in environmental analysis and awareness for both fixed installations and mobile devices, brings together two highly complementary technologies. EDGE3 develops machine vision software to improve the safety of automobiles, the efficiency of shipping logistics, or the security of one’s home or office. SensorBit’s technology, which is compatible with standard CMOS silicon processing, monitors complex chemical vapors in a small form factor and has ubiquitous health, security and comfort applications.
“We’re excited about the potential that this new product combination offers. Bringing together vision sensors and vapor compound sensors will be powerful in defining the next generation of connected home products and other Internet of Things devices,” said Roger Hauptman, Vice President of Corporate Development at EDGE3. “As homes become more connected, being able to provide multi-sensory inputs into the system will allow for the development of high value consumer applications that enhance convenience, health, safety, communication and home entertainment.”
Intelligent sensing and smart security applications are key ingredients as the world moves towards smart buildings and smart cities. As suggested by Google’s acquisition of both DropCam and Nest, combining vision and environmental sensing have the power to create home automation systems with the ability to take action on implicit commands, learned behaviors and environmental changes. According to a study released by Juniper Research, the smart home market will reach $71 billion by 2018.[i] Frost and Sullivan estimates that the smart city industry will reach $1.5Trillion by 2020, and more than 26 global smart cities will be fully developed by 2025.[ii]
“We’re moving into an era of not just a connected home, but a smart home that can be proactive rather than just reactive,” said Klaus Dimmler, Sensorbit CEO. “The combination of these two companies will enable us to create revolutionary, environmentally-aware products with EDGE3 playing the role of the eyes and SensorBit the nose.”
Terms of the acquisition were not disclosed.
EDGE3 Technologies is an advanced vision analytics company that offers the most versatile, robust and scalable vision technology using both single and dual camera configurations. EDGE3 is focused on solving problems that improve the safety of automobiles, the efficiency of shipping logistics, or the security of one’s home. EDGE3’s software platform combines world class depth mapping capability with state of the art artificial intelligence technology to deliver unprecedented vision analytics solutions across multiple vertical segments. EDGE3’s software applications are embeddable and can also be deployed on a “vision- as- a- service” basis, using existing cloud infrastructure. To date, EDGE3 has an IP portfolio of over 70 awarded and pending patents in the various fields of: Artificial Intelligence, Deep Learning, Computational Stereography, Structured Light, Time-of-Flight, Organic Sensors, and the Internet of Things. For more information, please visit: www.edge3technologies.com
SensorBit Systems is a Texas-based company, incorporated in 2010. It is developing and commercializing a new vapor sensing technology based on patents from the University of Texas at Austin. This technology is unique among vapor sensing technologies because of its small form factor, low power dissipation, and low manufacturing costs. For more information, please visit: www.sensorbit.com
SVP, Business Development & Operations