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OSLO - Elliptic Labs (OSE:ELABS), a technology company currently valued at $128 million, has signed a multi-year license agreement with an existing laptop customer to provide its AI Virtual Smart Sensor Platform for consumer laptops and PC accessories, the company announced Wednesday. According to InvestingPro data, the company has demonstrated impressive revenue growth of nearly 58% in the last twelve months.
The new agreement follows a recent deal with the same customer for commercial laptops, extending Elliptic Labs’ technology across both commercial and consumer laptop markets. The customer, described as a "world leading PC OEM," will embed Elliptic Labs’ AI platform directly within its proprietary software stack rather than deploying it through third-party applications.
"We are rapidly expanding our laptop contract portfolio," said Laila Danielsen, CEO of Elliptic Labs. "Consumer is the largest laptop segment globally, and we are excited to grow our footprint with a world leading PC OEM."
The Norway-based AI software company’s technology is currently deployed in over 500 million devices globally. Its AI Virtual Smart Sensor Platform uses deep neural networks to improve device functionality across various operating systems and applications.
The integration approach adopted by the customer in June allows for streamlined deployment while reducing reliance on external software, according to the press release statement.
Elliptic Labs is headquartered in Norway with offices in the USA, China, South Korea, Taiwan, and Japan. The company is listed on the Oslo Stock Exchange.
In other recent news, Elliptic Labs has announced a multi-year agreement with an existing laptop customer to expand the use of its AI Virtual Smart Sensor Platform. This agreement will now include PC accessories, marking a significant development for the company. The deal builds on a previous arrangement from earlier this year, where the customer integrated Elliptic Labs’ AI platform directly into its proprietary software stack. This move indicates a deeper collaboration between the two parties and enhances the application of Elliptic Labs’ technology. The company has not disclosed the name of the customer involved in this agreement. These recent developments highlight Elliptic Labs’ ongoing efforts to broaden the reach of its AI technology in the market.
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