BrainChip Acquires License to Cybersecurity Technology

BrainChip Holdings (ASX:BRN) announced that the company has entered into an agreement with the Democritus University of Thrace to license their cybersecurity technology.

The company said that the cybersecurity technology includes data-to-spike convertors and is specifically designed for network intrusion and anomaly detection,

As quoted in the press release:

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 cybersecurity 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 commented, “As the Akida NSoC design progresses it is important that we have proven examples of SNN models and data to spike convertors for our target markets. According to MarketsandMarkets, the artificial intelligence cybersecurity market is estimated to be US$35B 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 Cybersecurity 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.

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