Nordic Semiconductor

M&A Activity • Nov 30, 2020

NOD - Nordic Semiconductor acquires Wi-Fi development team and IP from Imagination Technologies

NOD - Nordic Semiconductor acquires Wi-Fi development team and IP from Imagination Technologies

(Oslo, Norway – November 30, 2020) Nordic Semiconductor expands into Wi-Fi by acquiring the entire Wi-Fi development team, core Wi-Fi expertise, and Wi-Fi IP tech assets of Imagination Technologies Group Ltd - for an undisclosed sum. The Wi-Fi asset includes Wi-Fi 4, 5, and 6, and a large portfolio of Wi-Fi and Wi-Fi related patents.

“Wi-Fi has long been the “number one” missing capability requested by our customers and with this acquisition we merge a world-class Wi-Fi development team into our organization. This team has a proven track-record of delivering state-of-the-art Wi-Fi solutions, and will make Nordic one of few companies able to offer all three of the world’s most popular wireless IoT technologies: Bluetooth, Wi-Fi, and cellular IoT”, says CEO Svenn-Tore Larsen in Nordic Semiconductor.

Nordic is already a global leader in low-power solutions for Bluetooth and an emerging leader in cellular IoT. With the addition of Imagination’s Wi-Fi development team and IP assets the company intends to develop new low-power Wi-Fi solutions and bring to market disruptive new products that combine Wi-Fi, Bluetooth Low Energy and/or cellular IoT.

Adding Wi-Fi functionality to future generations of Nordic products will expand Nordic’s addressable market significantly. The new Wi-Fi 6 standard allows for faster data throughput, higher capacity in dense networks, increased security, and lower power usage, which will enable many new application areas and battery-powered IoT devices. Nordic’s focus will be on leveraging synergies to create high customer value from a platform that unifies all major wireless technologies. As part of this, the company will become an active member of the Wi-Fi Alliance and work with the community to maximize the application potential of low power Wi-Fi.

The acquisition increases Nordic’s R&D staff by approximately 80 people across several locations in the UK, Sweden, India and Taiwan. The team also includes Bluetooth low energy specialists who will further strengthen Nordic’s existing R&D team in this area. As a result of the acquisition, Nordic expects annual R&D spend to increase by USD 10-12 million, leading to a meaningful revenue contribution from Wi-Fi products within three years.

Although Wi-Fi was born in the consumer sector, it is now rapidly gaining traction within the industrial IoT space,” states Imagination Technologies CEO, Simon Beresford-Wylie.

“With Imagination’s strong focus on graphics, vision, and AI processing, we feel our Wi-Fi IP division will thrive much better long-term within a company that has wireless connectivity at its center and where it will become a major focus of strategic, technological, and commercial innovation and growth. We are extremely happy to have found such a good home for the technology and the team at Nordic Semiconductor: It’s a perfect match.”

For additional information, please contact:

Pål Elstad, CFO Nordic Semiconductor ASA, +47 991 66 293

Steel Ytterdal, Director of IR Nordic Semiconductor ASA +47 930 37 430

About Nordic Semiconductor:

Nordic Semiconductor has been a pioneer in ultra-low power wireless solutions, from proprietary technologies for PC accessories to today’s Bluetooth low energy and multiprotocol products and long-range cellular IoT solutions. Nordic Semiconductor is the clear market leader in the ultra-low power wireless segment, serving a growing market in consumer electronics, wearables, building and retail, healthcare and an increasing number of other verticals and applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway.

This information is subject to the disclosure requirements according to Chapter 5 in the Norwegian Securities Trading Act and Chapter 3 of Oslo Stock Exchange’s Continuing Obligations of stock exchange listed companies.

About Nordic Semiconductor ASA

https://www.nordicsemi.com/About-us

About Imagination Technologies

https://www.imaginationtech.com