STMicroelectronics NV (STM) recently sealed a long-term research and development (R&D) partnership with Istituto Italiano di Tecnologia (“IIT”), a scientific and research development foundation in Italy. The alliance, based on the existing relationship between the two organizations, will run for an initial period of three years.
Per the agreement, the two parties will carry out various Joint Research Programs in different areas such as Robotics, Neuroscience, Energy and Environment, and Health and Safety. The partnership is intended to leverage IIT’s innovative mechanisms in the field of robotics, nanotechnology, pattern recognition, computer vision and STM’s knowledge in semiconductor space.
STMicroelectronics believes that this long-standing R&D association with IIT will help both the parties to deliver unmatched results in the research space. The collaboration is expected to generate significant synergies for customers, including efficient energy utilization and increased productivity. Moreover, the venture will also help to address health and well-being issues.
STM and IIT signed their first Joint Research Program for Robotics, which turned out to be one of the most fruitful collaborations between the two. Under this partnership, the two parties produced an open-source iCub Humanoid Robot, which works on STM's technology.
The Istituto Italiano di Tecnologia, a private institution in Italy, was set up jointly by the Ministry of National Education and Ministry of Economy and Finance. It was intended to encourage research and development and education for the economic development of the country. IIT has various publications and inventions on Robotics and Neuroscience.
STMicroelectronics is a global independent semiconductor company, which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems.
Currently, STM has a Zacks Rank #3 (Hold). Stocks that look attractive currently include Texas Instruments Inc. (TXN), Amtech Systems Inc. (ASYS) and CSR plc (CSRE). All these stocks carry a Zacks Rank #2 (Buy).
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