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Business/Financial

Silicon Valley Firm Quanergy Acquires People Tracker Software From Raytheon’s BBN

By Cal Biesecker

Monday, August 29th, 2016

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Silicon Valley Firm Quanergy Acquires People Tracker Software From Raytheon’s BBN

Mercedes-Benz equipped with Quanergy's technology. Photo: Quanergy

Quanergy Systems, Inc. on Monday said it has acquired a people tracking software from Raytheon’s [RTN] BBN Technologies business, complementing the company’s three-dimensional sensing software capabilities.Terms of the deal were not disclosed.Quanergy, based in Silicon Valley, said the acquisition of BBN’s OTUS People Tracker software will be integrated with the company’s existing software and LiDAR sensors to create an integrated hardware and software solution for advanced people detection and tracking applications in the security and autonomous driving markets.“The acquisition of…

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