4M Wireless acquired by u-blox for LTE technology
The acquisition will give u-blox ownership of advanced protocol stacks that are licensed to chipset vendors whose products enable 4G user equipment for applications with needs for high speed data connectivity such as smartphones, tablet computers, notebooks and any other high-speed wireless modems. Also a variant of the products is licensed to manufacturers of 4G test equipment. 4M Wireless was founded in 2006 and has headquarters in the UK and operations in Lahore, Pakistan’s center for technology and higher education. The company has been profitable over the past 3 years.
“4M Wireless adds leading edge know-how in the area of next-generation wireless technology that will operate over 4G networks worldwide” said Thomas Seiler, CEO of u-blox. “Their proven software and test solutions and impressive customer list also brings u-blox immediate new licensing revenues in Europe, Asia and America”.
U-blox will acquire 100% of the shares of 4M Wireless at a price of approximately 9 million US Dollars, depending on earn-out. It will gain key intellectual property and software in the area of LTE wireless technology from the acquisition. The 4M Wireless business and employees are expected to be integrated into u-blox’ organization.
Currently there are 35 commercially available LTE networks in over 20 countries, and 48 manufacturers have already announced 197 different LTE end-devices. 300 Million LTE subscribers are expected by 2015.
The acquisition is subject to customary closing conditions and pending regulatory approval. Closing is expected by September 2012.
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