Beijing-based DeePhi Technology Co Ltd focused on artificial intelligence and machine learning solutions, has been acquired by its existing investor, Nasdaq-listed Xilinx Inc, according to an announcement.
Financial terms were undisclosed.
Xilinx develops processing platforms that enable innovation across a variety of technologies and since 2016, DeePhi Technology has been partnering with Xilinx to develop its commercial products.
“We will work even more closely to deliver leading machine learning solutions to our customers in China and around the world,” said Song Yao, CEO of DeePhi Tech. Xilinx first invested in DeePhi Technology in 2017.
The earlier investment by Xilinx was a Series A round worth tens of millions of dollars made along with Taiwan-based semiconductor firm MediaTek, GSP Ventures, Banyan Capital, Tsinghua Holdings and Sigma Square Capital.
DeePhi Technology was founded in 2016 by researchers from Tsinghua University and Stanford University.
Last year, it raised about $40 million Series A+ led by Ant Financial and Samsung, with other participating investors including China Merchants Venture and China Growth Capital.
Xilinx is currently preparing to market new type of processors, named Everest that could help with the latest technology like AI-run products and services to operate in a faster paste.
“We are thrilled to welcome DeePhi Tech to the Xilinx family and look forward to further building our leading engineering capabilities and enabling the adaptable and intelligent world,” said Salil Raje, executive vice president of Software and IP Products Group at Xilinx.