Austin, Texas, USA and Espoo, Finland - February 4, 2015 - Silicon Labs (NetTech Technology, Inc., NASDAQ: SLAB), a leader in microcontrollers, wireless networking, analog and sensor solutions for the Internet of Things today Announced the acquisition of Bluegiga Technologies Oy. Bluegiga is a privately held company based in Espoo, Finland, one of the fastest growing independent suppliers of short-range wireless networking solutions and Internet of Things (IoT) software. Bluegiga's wireless networking portfolio includes ultra-low power Bluetooth ® Smart, Bluetooth Classic and Wi-Fi ® modules, as well as software stacks, development tools and software development kits (SDKs) for a wide range of industrial automation and consumer applications. Electronics, audio, automotive, retail, residential, healthcare and fitness markets.
The strategic acquisition significantly expands Silicon Labs' wireless networking hardware and software solutions for the Internet of Things. Bluegiga's popular Bluetooth and Wi-Fi modules, software stacks and development tools are available with Silicon Labs' 802.15.4 ZigBee®, Thread Grid Network Software, Ultra Low Power Sub-GHz Solutions and Wireless Microcontrollers (wireless) MCU) and transceiver products complement each other. By combining the wireless networking product line with the development ecosystem, Silicon Labs will be able to respond to a wider range of market opportunities and customer needs. Silicon Labs and Bluegiga work together to provide customers with a "one-stop" standards-based wireless networking solution that includes a wide range of high performance, long range and ultra low power options.
Silicon Labs CEO Tyson Tuttle said: "Silicon Labs' wireless networking, microcontroller and sensor product lines have been well received in the IoT market, so the timing of this acquisition is no better. Bluegiga's wireless network module and The software stack complements our wireless networking products and makes our IoT solution more complete. The introduction of the Bluegiga wireless network module gives us a new and convenient way to provide our customers with easy access. Wi-Fi connectivity is integrated into its design."
Upon completion of the acquisition, Silicon Labs will continue to operate in Espoo, Finland as a premier wireless network hardware and software technology development center. The company will continue to develop and market complete Wi-Fi, Bluetooth module products and software stack product lines for customers around the world.
RikuMettälä, vice president of product innovation at Bluegiga, said: “Working with Silicon Labs to inspire the Bluegiga team. Our shared vision is to provide a versatile, cost-effective and smooth wireless network connectivity solution for diverse applications, covering the home. Connect, industrial Internet of Things, consumer electronics to multiple markets for healthcare and fitness equipment. Our wireless network development team will work together to drive innovation in the IoT market, and our integrated solutions will provide customers with more connected devices. A rich selection of wireless network platforms."
Terms and regulations
Silicon Labs completed the acquisition of Bluegiga Technologies Oy on January 30, 2015. Under the agreement, Bluegiga's investors received approximately $61 million in cash. The purchase will be paid from the cash resources of the balance sheet and no borrowing is required. Bluegiga is expected to contribute approximately $25 million to $28 million in revenue in 2015. Silicon Labs expects the acquisition to increase its 2015 earnings, based on non-GAAP. The rest of the financial details and specifications will be revealed in Silicon Labs' fourth-quarter earnings report, scheduled for February 4, 2015.
About Bluegiga Technologies
Bluegiga is committed to providing innovative, easy-to-use short-range wireless networking solutions for OEMs, equipment manufacturers and system integrators. Bluegiga's technology portfolio includes Bluetooth and Wi-Fi, as well as a diverse range of wireless networking modules, from ultra-low-power Bluetooth Smart modules to the industry's best remote Bluetooth Classic and Wi-Fi products. Bluegiga was founded in 2000 and is headquartered in Espoo, Finland. The company has local sales staff and customer service organizations in Atlanta, Georgia, China, Hong Kong and China. Bluegiga products are sold to more than 70 countries worldwide through an extensive distribution network. For more information, please visit the following website:
About Silicon Labs
Silicon Labs, Inc. (NASDAQ: SLAB) is a leading provider of silicon, software and system solutions for the Internet, Internet infrastructure, industrial control, consumer electronics and automotive markets. We address the challenges of the electronics industry and bring significant advantages to customers in terms of performance, energy efficiency, connectivity and minimalist design. Silicon Labs has a world-class engineering team with exceptional software and mixed-signal design experience, providing the tools and technologies you need to help designers turn their original ideas into the final product quickly and easily.
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