Humane, a hardware startup known for its AI Pin, has sold most of its assets to HP for $116 million. Following the acquisition, Humane is discontinuing sales of its AI Pin and advising customers to back up their data before February 28th, as devices will cease functioning after that date.
The AI Pin, launched in April 2024, aimed to replace smartphones. However, poor reviews and high return rates caused difficulties for Humane. In October, the company reduced the Pin’s price by $200 to $499.
HP’s acquisition includes Humane’s team of engineers and product managers, who will establish HP IQ, an innovation lab dedicated to developing AI integration across HP products. HP will also acquire Humane’s CosmOS AI operating system, which could potentially enhance AI capabilities in HP computers and printers.
According to a previous Bloomberg report, Humane had previously sought a higher acquisition price between $750 million and $1 billion. Customers who purchased an AI Pin within the past 90 days are eligible for refunds, while those who bought before that period are not.
Original source: Read the full article on TechCrunch
