Greek IP company Adveos bought by Shanghai-based Beken
A fabless, Shanghai-based semiconductor company, Beken Corporation has announced that its has completed the acquisition of Adveos Microelectronic Systems, an RF and mixed-signal IP provider based in Athens, Greece.
The acquisition will strengthen Beken’s wireless communication capabilities and will enhance the company’s growth momentum in a time where the rapid developments in wireless protocols provide significant opportunities both the domestic and foreign markets. Furthermore, this transaction clearly demonstrates Beken’s strategy to be gradually become a world-class wireless solutions provider.
Mr. Pengfei Zhang, Beken’s Chairman, said: “Beken has been focusing on the design and development of wireless communication ICs for a long time by providing complete wireless communication solutions for various application scenarios such as wireless connectivity, intelligent transportation and the Internet of Things. The acquisition of Adveos will enable Beken to strengthen its strategic position in these markets, bringing new growth opportunities in terms of revenue and products, as well as enhancing the company’s market competitiveness and long-term profitability. In Adveos we have found a great team that perfectly complements our vision to become the leading wireless chipset supplier. We aim to further expand the team in Athens and increase its footprint substantially over the coming years.”
“It is an exciting opportunity for Adveos, within the Beken family, to be a key member in the design of next generation wireless products that will help improve the lives of millions,” said George Dimitropoulos, CEO and Co-Founder of Adveos.
www.bekencorp.com
www.adveos.com
Further reading
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