LONDON— ARM Holdings ARMH 3.16 % PLC, the England-based tech firm that designs most of the world s smartphone chips, said Wednesday that it completed a $350 million acquisition of a computer-vision company, in a bet that it can further ARM s goal of getting its technology into new markets such as automobiles, robots and everyday household items.

For example, its technology can help a security camera distinguish between a human and cat.

Founded in 2002, Apical employs 100 people.

As the growth in global smartphone shipments slows—ARM expects an annual increase of 6% to 7% for the next five years—the company has diversified.

It can automatically transmit live video to the homeowner whenever it detects motion, but that would take up a lot of power and bandwidth.

Based in Cambridge, England, ARM is regarded as one of the U.K. s top tech firms.

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