Qualcomm Acquires Corum’s Client Clay AIR

Bothell, Washington, UNITED STATES


SEATTLE, Nov. 23, 2021 (GLOBE NEWSWIRE) -- 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.

About Corum Group
Corum Group is the global leader in merger and acquisition services, specializing in serving sellers of software and related technology companies worldwide. With offices globally, Corum has completed over $10B in software M&A transactions over the last 36 years. Corum's M&A advisors are highly experienced former tech CEOs, supported by industry-leading researchers, writers and valuators. For more information, visit www.corumgroup.com.

About Clay AIR
Clay AIR developed the only hardware agnostic hand tracking technology that enables hardware and software providers to offer their users immersive and natural interactions with digital or virtual assets without compromising the experience’s precision and performance. Clay AIR hand tracking technology is the result of over 10 years of research in artificial intelligence, computer vision and user experience. Over the last 5 years, Clay AIR has partnered with some of the largest OEMs to commercialize a new layer of interactivity, developing software solutions with industry leaders such as Qualcomm, Lenovo, Bose, Renault, Faurecia, Nreal, and more. For more information visit, www.clayair.io.

Contact:
Heidi Owen
+1 425-526-3107
heidio@corumgroup.com