Company Is Now a One-Stop-Shop for Wireless ICs, Modules, Software
and Solutions for the Internet of Things
AUSTIN, Texas & ESPOO, Finland--(BUSINESS WIRE)--
Silicon
Labs (NASDAQ: SLAB), a leading provider of microcontroller, wireless
connectivity, analog and sensor solutions for the Internet
of Things (IoT), today announced the acquisition of Bluegiga
Technologies Oy. A privately held company based in Espoo, Finland,
Bluegiga is one of the fastest growing independent providers of
short-range wireless connectivity solutions and software for the IoT.
Bluegiga's wireless 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 multitude
of applications in the industrial automation, consumer electronics,
audio, automotive, retail, residential, and health and fitness markets.
This strategic acquisition significantly expands Silicon Labs' wireless
hardware and software solutions for the IoT. Bluegiga's market-proven
Bluetooth and Wi-Fi modules, software stacks and development tools
complement Silicon Labs' 802.15.4 ZigBee®
and Thread
mesh networking software, ultra-low-power sub-GHz
solutions, and wireless
MCU and transceiver product offerings. The combined wireless
connectivity portfolio and development ecosystem will enable Silicon
Labs to address a broader range of market opportunities and customer
needs. Together, Silicon Labs and Bluegiga offer customers a
"one-stop-shop" source of standards-based wireless connectivity
solutions including high-performance, long-range and ultra-low-power
options.
"With Silicon Labs' wireless, microcontroller and sensor portfolios
gaining considerable traction in the IoT markets, the timing of this
acquisition couldn't be better," said Tyson Tuttle, CEO of Silicon Labs.
"Bluegiga's wireless modules and software stacks round out our wireless
portfolio and complement our IoT solutions. The addition of Bluegiga
wireless modules gives us new ways to deliver simplicity to our
customers, enabling developers to easily add wireless connectivity to
their designs."
Following the acquisition, Silicon Labs will continue to operate in
Espoo, Finland, as a center of excellence for wireless hardware and
software technology development. The company will continue to develop,
market and support a complete portfolio of Bluetooth and Wi-Fi module
products and software stacks for customers worldwide.
"The Bluegiga team is excited to join forces with Silicon Labs," said
Riku Mettälä, vice president of product creation at Bluegiga. "We truly
share a common vision of enabling versatile, cost-effective and
streamlined wireless connectivity solutions for a wide range of
applications, from the connected home to industrial IoT to consumer and
health and fitness devices. Together, our wireless development teams
will drive innovation in the IoT market, and our unified solutions will
give customers a rich choice of wireless platforms for connected
devices."
Terms and Guidance
Silicon Labs completed the acquisition of Bluegiga Technologies Oy on
January 30, 2015. Under the agreement, Bluegiga investors received
approximately $61 million in cash. The acquisition was funded from
Silicon Labs' balance sheet cash resources and required no borrowing.
Bluegiga is expected to contribute approximately $25 million to $28
million in revenue in 2015, and Silicon Labs expects the acquisition to
be accretive to 2015 non-GAAP earnings. Additional financial details and
guidance will be provided in Silicon Labs' fourth quarter earnings call
scheduled for February 4, 2015.
About Bluegiga Technologies
Bluegiga is committed to providing innovative and easy-to-use
short-range wireless connectivity solutions to OEMs, device
manufacturers and system integrators. Bluegiga's technology portfolio
includes Bluetooth and Wi-Fi, and products include a wide range of
wireless modules, from ultra-low-power Bluetooth Smart modules to
best-in-class long-range Bluetooth Classic and Wi-Fi products. Bluegiga
was founded in 2000 and is headquartered in Espoo, Finland. The company
has local sales and customer service offices in Atlanta, Georgia (USA)
and Hong Kong, China. Bluegiga products are available globally in more
than 70 countries through an extensive distribution network. For more
information, visit www.bluegiga.com.
Silicon Labs
Silicon Labs (NASDAQ: SLAB) is a leading provider of silicon, software
and system solutions for the Internet of Things, Internet
infrastructure, industrial automation, consumer and automotive markets.
We solve the electronics industry's toughest problems, providing
customers with significant advantages in performance, energy savings,
connectivity and design simplicity. Backed by our world-class
engineering teams with strong software and mixed-signal design
expertise, Silicon Labs empowers developers with the tools and
technologies they need to advance quickly and easily from initial idea
to final product. www.silabs.com
Cautionary Language
This press release contains forward-looking statements based on Silicon
Labs' current expectations. The words "believe," "estimate," "expect,"
"intend," "anticipate," "plan," "project," "will," "expanding,"
"growing," and similar phrases as they relate to Silicon Labs or
Bluegiga are intended to identify such forward-looking statements. These
forward-looking statements reflect the current views and assumptions of
Silicon Labs and are subject to various risks and uncertainties that
could cause actual results to differ materially from expectations. Among
the factors that could cause actual results to differ materially from
those in the forward-looking statements are the following: risks related
to the successful completion of the development and implementation of
Bluegiga's technology; risks associated with the development of modules
and the Company's limited operating history with modules; risks that the
acquisition may not yield the expected benefits due to the failure to
properly integrate the acquired business and employees; risks that our
competitors that supply products incorporated in Bluegiga's modules may
disrupt such supply; risks that the acquired business's products and
processes under development may fail to achieve market acceptance; risks
of disputes regarding the acquired business and intellectual property;
risks that the performance of Silicon Labs' existing business may not
offset the dilutive effects of the acquisition; risks associated with
the competitive and cyclical nature of the semiconductor industry and
other factors that are detailed in Silicon Labs' filings with the SEC.
Silicon Labs disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
Note to editors: Silicon Labs, Silicon Laboratories, the "S" symbol, the
Silicon Laboratories logo and the Silicon Labs logo are trademarks of
Silicon Laboratories Inc. All other product names noted herein may be
trademarks of their respective holders.
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Silicon Labs
Public Relations:
Dale Weisman, +1 512-532-5871
dale.weisman@silabs.com
or
Investor
Relations:
Jalene Hoover, +1 512-428-1610
investor.relations@silabs.com
Source: Silicon Labs
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