Qorvo buys GreenPeak to boost IoT offering
April 20, 2016
Qorvo, a North Carolina-based provider of core technologies and RF for mobile, infrastructure and defence applications, has signed a definitive agreement to acquire privately held Dutch company GreenPeak Technologies, which specialises in low power, short range RF communications technology.
The acquisition of GreenPeak will allow Qorvo to expand its customer offering to include integrated RF and systems-on- chip (SoCs) for the connected home and the rapidly growing IoT.
“The acquisition of GreenPeak Technologies will complement Qorvo’s market-leading high power RF portfolio with innovative ultra-low power, short-range wireless personal area network SoCs, Zigbee and Bluetooth solutions,” said James Klein, president of Qorvo’s infrastructure and defence products group. “GreenPeak brings a world-class technical team and solutions to Qorvo, allowing us to increase our presence in the rapidly expanding IoT market.”
GreenPeak Technologies adds to Qorvo a legacy of engineering and system-level expertise in wireless RF technology, and a broad range of proprietary antenna diversity and multiple receiver architecture technologies. GreenPeak technologies are said to provide superior range, robustness and best-in-class Wifi interference rejection with no latency in production-ready reference designs that will allow quick time to market for integration into smart home and IoT applications. In 2015, GreenPeak celebrated shipment of its 100 millionth Zigbee chip to the smart home market.
“Our team is excited to join Qorvo and continue our legacy of creating ultra-low power RF solutions for our customers,” said Cees Links, founder and CEO of GreenPeak Technologie. “We believe Qorvo will be a great environment for the GreenPeak team to grow as part of a much larger company serving many more global customers.”
GreenPeak will become part of Qorvo’s IDP group and will be headed by Links.
The transaction is expected to close in the current quarter, subject to customary closing conditions. Wells Fargo Securities served as financial advisor to GreenPeak in connection with the transaction.