License to cyber security technology acquired

The cyber security technology includes data-to-spike converters and is specifically designed for network intrusion and anomaly detection using a spiking neural network (SNN) that can be accelerated by the Akida Neuromorphic System-on-Chip (NSoC).

Professor Lazaros Iliadis, PhD, Professor of the Department of Civil Engineering, Lab of Mathematics and Informatics, School of Engineering at the Democritus University of Thrace is responsible for the program. He commented: “We have been working with spiking neural networks for several years and our cyber security technology has proven highly accurate in detecting threats. The Akida NSoC is an ideal platform to accelerate our SNNs.”

Robert Beachler, BrainChip SVP of Marketing and Business Development stated: “As the Akida NSoC design progresses, it is important that we have proven examples of SNN models and data to spike converters for our target markets. According to MarketsandMarkets, the artificial intelligence cyber security market is estimated to be $35bn by 2025 and this technology acquisition will jump-start our solutions in this lucrative application space.”

Peter van der Made, BrainChip Founder and CTO added: “Working with the exceptional team at the Democritus University of Thrace will serve to increase our expertise and knowledge in the area of Cyber security and widen the reach of our low power and low latency Akida NSoC device.”

The transaction consideration will be incurred over several quarters and will not have a material impact on the Company’s cash position.