u-blox acquires 100% of the shares Antcor at €5.2m
u-blox has announced that it has acquired Antcor Advanced Network Technologies. The acquisition consists of a purchase of 100% of the shares of Antcor at a price of €5.2m, as well as an earn-out which offers the sellers the possibility to participate in certain future revenues of the company.
Founded in 2004, Antcor is a privately-held VC backed company which specialises in WiFi software development. The acquisition 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, CEO, u-blox.
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