AsianFin — HP Inc. has reached an agreement to acquire significant assets from Humane Inc., the startup behind the wearable Ai Pin introduced in late 2023, for $116 million.

The acquisition will include most of Humane’s employees, as well as its software platform and intellectual property. However, HP will not take over the Ai Pin device business, which will be discontinued, according to an HP spokesperson.

As part of the deal, Humane's founders, Imran Chaudhri and Bethany Bongiorno, along with their team, will join HP to form a new division focused on integrating artificial intelligence into HP’s range of personal computers, printers, and conference room technologies. Chaudhri and Bongiorno, both former Apple Inc. design and software engineers, launched Humane in 2018.

Humane’s flagship product, the Ai Pin, was designed to replace smartphones by allowing users to access AI models, calls, and texts through voice or gesture. Despite initial excitement, the wearable faced a series of negative reviews, technical glitches, and a significant “quality issue” that posed a potential fire risk. The San Francisco-based startup had raised over $230 million from investors, including Salesforce CEO Marc Benioff, but ultimately struggled to gain traction with consumers.