© Nordic Semiconductor
Business |
Nordic Semi cancels Novelda acquisition
Back in mid-October, Nordic Semiconductor announced that it had signed a Letter of Intent (LOI) to acquire the Norwegian ultra-wideband wireless technology company Novelda AS for an undisclosed sum. Now, Nordic Semi says it wont proceed with the potential acquisition.
The news follows Nordic Semiconductor's announcement that it is initiating a “strategic resource realignment” that includes a global workforce reduction of approximately 8% of the company’s total workforce.
In a short statement, the company says that "it will not proceed with the acquisition of Novelda AS as previously contemplated under the Letter of Intent (LOI) dated October 16, 2024."
