I think part of the problem with the question if OSHW companies could be acquired is that many people who start companies and practice open source aren't necessarily looking for an exit strategy that involves an acquisition.
If you start, day one, thinking your trajectory is acquisition, it's less attractive to be open: one way to prop up your value is by controlling the flow of information about your product.
Replay available now: A handful of emerging network technologies are competing to be the preferred wide-area connection for the Internet of Things. All claim lower costs and power use than cellular but none have wide deployment yet. Listen in as proponents of leading contenders make their case to be the metro or national IoT network of the future. Rick Merritt, EE Times Silicon Valley Bureau Chief, moderators this discussion. Join in and ask his guests questions.