MUNICH, Germany Portuguese IP provider Chipidea and Nordic Semiconductor ASA have entered into an agreement for Chipidea to acquire the Scandinavian company's data converter IP business.
With the takeover, The Lisbon based IP vendor and mixed signal design specialist uses the $6.6 million (5.08 million) funding it has received from private equity investor Espírito Santo Ventures for acquisitions, as announced earlier. For the Nordic Semiconductor data converter business, Chipidea will pay a total of $6 million with $2.6 million upfront after the close of the deal and the remainder in equal installments over the next two and a half years. The transaction is expected to be closed by end of February.
Nordic Semiconductor offers data conversion IP for in-house projects, third-party ASIC designs and standard products. The analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) designed by Nordic are mostly used in application fields such as digital photography, wireless networks and video.
With the sum it will redeem from Chipidea, Nordic Semiconductor intends to strengthen its focus of RF components for wireless personal area networks in the 2.4 GHz range, the company said.
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