u-blox acquires Cognovo

“This is a very exciting acquisition for u-blox as it positions us as an agile and cost-effective supplier of high-speed wireless modem products based on our own chip IP. This allows us to meet market demand for connected systems that require positioning, connectivity and application specific functionality on a single integrated circuit,” said Thomas Seiler, u-blox CEO. “This new foundation broadens our serviceable market, and will increase our margins in the automotive, consumer and industrial sectors. Our first 4G product is planned for 2013.” “We are very pleased to deploy our SDM technology within u-blox”, said Dr. Gordon Aspin, Cognovo CEO. “With over 300 man-years of R&D invested in our SDM technology, this acquisition brings together the industry’s most advanced software modem development platform with some of the best IC design and GNSS engineers in the world. This will be an unbeatable team.” Key terms of the transaction include:

• Acquisition of 100% of the shares of Cognovo Ltd at a price of 16.5 million US Dollars
• Acquisition of key intellectual property and software
• Integration of the Cognovo business and 30 employees into u-blox’ organization