(MENAFN) Huawei Technologies Co has invested in a British technology company, eyeing to boost its consumer business by tapping into the market potential of Internet of Things, Xinhua reported.
The China-based tech giant has joined German Robert Bosch Venture Capital GmbH and US Xilinx Inc. to invest a total of USD26.2 million into British XMOS Ltd, a leader in intelligent multicore microcontrollers.
Huawei will be one of the three strategic investors, all of which gain minority stakes through the investment, according to Bristol-based XMOS company.
"This funding from major industry players alongside leading technology investors represents a resounding validation for our multicore technology and highlights the growing strength of our business," CEO of XMOS said.
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