Qorvo buys wireless IoT specialist GreenPeak
The amount Qorvo will pay was not disclosed. GreenPeak was formed by the merger of Dutch company Xanadu Wireless and the Belgian company Ubiwave in July 2007 and has specialized in ZigBee and Bluetooth chips for domestic applications and the Internet of Things. In 2015, GreenPeak celebrated the shipment of its 100 millionth ZigBee chip to the smart home market.
GreenPeak will become part of Qorvo’s Infrastructure and Defense Products (IDP) group and will be led by Cees Links the CEO and founder of GreenPeak.
Home networking and IoT annual markets addressed by the IEEE 802.15.4 standard and by ZigBee and Bluetooth Low Energy (BLE) technology are estimated to grow to $2.3 billion in value by 2020, according to GreenPeak referencing Gartner as its source. Related smart markets such as retail, agriculture, automotive, lifestyle and commercial lighting are expected to grow to $4.9 billion by 2020. Beyond smart home networking, demand is growing to connect a variety of devices including HVAC, energy, security, home health, and remote controls utilizing innovative ultra-low power wireless data communication SoCs.
The transaction is expected to close in the current quarter, subject to customary closing conditions.
www.greenpeak.com
www.qorvo.com
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