Electronics Production | January 24, 2005
Chipcon acquires Figure 8 Wireless
Chipcon AS, provider of low power, low data rate RF ICs and Figure 8 Wireless, provider of ZigBee ready software and firmware announced today that the parent company of Chipcon AS, the Chipcon Group ASA has acquired Figure 8 Wireless Inc, in an all stock transaction.
The Chipcon and Figure 8 Wireless merger creates the world's first true global "One-Stop" ZigBeetm solutions provider to deliver new device networking solutions based on the ZigBee standard, a recently ratified wireless device networking protocol that is creating a sea change in the way everyday devices communicate with one another. ZigBee solutions deliver reliable, cost-effective, low-power wireless monitoring and control applications based on an open global standard, enabling the broad-based deployment of reliable wireless networks. The potential impact is major category upheavals in industries such as the $10 billion building automation market dominated by players like Honeywell, Johnson Controls, Siemens, Invensys, and others that are set to benefit from significant reductions in installation costs that today make up as much as 50% of the installed cost of such systems. Joe Markee will continue his role as President of Figure 8 Wireless and Don Sturek will become CTO, Software. In a separate move, Barry Rudolph, Figure 8 Wireless' CFO and Vice President of Business Development will become CFO of Chipcon Group ASA and will be located in Oslo, Norway.