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u-blox acquires connectBlue

Swiss-based u-blox is acquiring Swedish connectBlue AB, a provider of industrial-grade short range radio modules.
The acquisition enhances the u-blox portfolio of positioning and cellular wireless communications solutions with short range communication products. Key applications include industrial machine-to-machine (M2M), medical equipment, data acquisition, vehicle monitoring and asset tracking systems.

“The Internet of Things requires end-to-end connectivity to allow powerful applications to manage mission- and business-critical devices such as health monitoring and point of sales terminals, factory automation and vehicle sensors,“ said Thomas Seiler, u-blox CEO. “connectBlue’s short range radio technology combined with our comprehensive line of cellular modems and satellite positioning receivers allow us to provide a complete communication solution for thousands of existing and future applications. We are very pleased to work with our new colleagues in Sweden to build on the deep synergies between our businesses.”

“This merger with u-blox gives our customers a rich choice of highly-reliable, industrial-grade wireless connectivity solutions to the last mile as well as to the last meter," said Rolf Nilsson, connectBlue CEO. “Our combined portfolio provides a lower-cost and more reliable alternative to cable, copper and fiber used in factories, vehicles and outdoor installations. We are excited to join forces with u-blox to help build a wireless world.”

connectBlue’s operations in Malmö, Sweden, will become the new product center for short range radio. The acquisition entails purchase of 100% of the shares of connectBlue AB for an enterprise value of SEK 185 million or CHF 25 million (roughly EUR 20.5 million).
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January 17 2019 2:20 pm V11.11.0-2