Silicon Labs pays $61 million to acquire Finnish company

Feb 5, 2015
Austin Business Journal

Silicon Laboratories Inc. has bought Finland-based wireless product developer Bluegiga Technologies Oy for $61 million

The Austin-based company disclosed Tuesday that it completed the deal on Jan. 30. Bluegiga investors received about $61 million in cash funded from Silicon Labs' balance sheet cash. It required no borrowing, according to a company announcement

Bluegiga Technologies, founded in 2000, develops short-range wireless connectivity solutions and software for the Internet of things. The company employs 40 workers and operates sales and customer service offices in Atlanta and Hong Kong

Silicon Labs will operate a center of excellence for wireless hardware and software technology development in Espoo, Finland. It will continue to develop Bluetooth and Wi-Fi module products and software stacks, the according to the announcement

Silicon Labs, which was founded in 1996, develops embedded microprocessors for a variety of technologies. The company is one of the largest employers in the Austin area, with 600 employees working out of two Central Texas offices

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