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Silicon Labs to Expand Leading IoT Wireless Platform with Acquisition of Redpine Signals’ Connectivity Business
AUSTIN, Texas and SAN JOSE, Calif., March 12, 2020 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB) announced that it has entered into a definitive asset purchase agreement with Redpine Signals to acquire the company’s Wi-Fi and Bluetooth business, development center in Hyderabad, India, and extensive patent portfolio for $308 million in cash.
“The acquisition of Redpine Signals’ ultra-low-power Wi-Fi and Bluetooth products and extensive intellectual property portfolio will expand our leadership in IoT wireless technology,” said Tyson Tuttle, CEO of Silicon Labs. “The addition of these products into our worldwide sales and distribution network will drive further momentum in the smart home, industrial IoT and commercial markets for customers who want to get to market quickly with Wi-Fi enabled connected devices.”
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