Thalwil, Switzerland and Athens, Greece – August 6, 2014 – Swiss u-blox, provider of wireless and positioning semiconductors and modules for the automotive, industrial and consumer markets, has acquired the company Antcor, a developer of Wi-Fi baseband intellectual property (IP).
The acquisition consists of a purchase of 100% of the shares of Antcor Advanced Network Technologies S.A. at a price of EUR 5.2m (CHF 6.3m), in addition to an earn-out which offers the sellers the possibility to participate in certain future revenues of the company.
The transaction gives u-blox immediate ownership of advanced Wi-Fi core technology that will enable the company to develop ruggedised communication solutions tailored to demanding environments.
“The acquisition of Antcor’s technology and expertise significantly strengthens our chip design capabilities for short range wireless communications. Their technology is a perfect complement to our wireless communications and global positioning activities and expands our ability to deliver robust, end-to-end M2M communication solutions to our customers,” said Thomas Seiler, u-blox CEO.
Founded in 2004, Antcor is a privately-held VC backed company with headquarters in Athens, Greece. With 25 highly qualified employees, Antcor specialises in Wi-Fi software development.
For more information about Antcor, visit www.antcor.com