Memorial University spinout InspectAR helps design printed circuit boards and will expand its software following a purchase by Cadence Design Systems.
InspectAR, a Canada-based developer of technology to design printed circuit boards based on Memorial University of Newfoundland research, has been acquired by electronic design automation (EDA) software company Cadence Design Systems.
Financial terms of the transaction have not been disclosed. InspectAR will continue to operate independently and staff will remain at the current offices in Newfoundland.
InspectAR provides augmented reality software tools to inspect printed circuit boards (PCBs) – the part of a computer to which integrated circuits are attached and through which they are electronically connected.
The software overlays the PCB with schematics in real time in order to assist with inspection, debugging, reworking and assembly. The company was founded out of Memorial University’s Centre for Entrepreneurship in 2018.
The acquisition will allow InspectAR to expand its capabilities to support a wider range of EDA software and to tap into a bigger customerbase.
The spinout had raised $850,000 in funding from PCB manufacturers Royal Circuit Solutions and Advanced Assembly in January 2020.
