Atmel acquiring low-power wireless chip designer Newport Media
In a move which will improve Atmel Corporation's `Internet of Things' footprint, the company - which manufactures microcontrollers and capacitive touchscreens - has announced that it is acquiring low-power wireless chip designer Newport Media, in a $140 million cash deal.
Atmel said that the transaction - which is subject to customary closing conditions, including anti-trust review - is likely to be completed in the third quarter of 2014. A Bloomberg report has revealed that the $140 million purchase price is also subject to working capital adjustments; and could increase by as much as $US30 million if "certain revenue goals are met."
With regard to the acquisition, Atmel said that it has signed a definitive agreement to purchase Newport Media, which is a leading provider of high performance low power Wi-Fi and Bluetooth solutions. Atmel also said that the acquisition will give it the ability to offer the industry's most complete wireless portfolio of smart connected devices for the `Internet of Things.'
The acquisition of Newport Media is apparently in line with the efforts which Atmel is already making in the `Internet of Things' arena. In June, Atmel had announced a range of ARM-based microcontrollers - dubbed SMART - which combined low-power 32 bit ARM with WiFi under the SmartConnect brand.
In reference to the acquisition of Newport Media, Atmel's President and CEO Steve Laub said: "Combined with our existing Wi-Fi and Zigbee solutions and industry leading microcontroller portfolio, Atmel is positioned for substantial growth in the Internet of Things marketplace."
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