Irish semi-conductor company Decawave has accepted a takeover bid from radio frequency (RF) components maker and Apple supplier Qorvo.
Irish chipmaker Decawave has announced that it will be acquired by Qorvo, a leading provider of innovative RF solutions that connect the world, in a deal believed to be worth about $400 million (€363 million).
The company, which was founded by Ciarán Connell and Michael McLaughlin in 2007, specialises in precise location and connectivity applications.
US-based Qorvo, which makes radio-frequency (RF) semiconductor components, derives about a third of its annual revenue from selling its products to Apple. Qorvo has also spent around $100 million acquiring Custom MMIC, a manufacturer that specializes in microwave RF communications technologies.
“We have created an incredibly unique technology, but we understand that to embrace the opportunity in front of us, we will need greater resources to execute at scale”
Decawave say that IR-UWB technology is on the verge of becoming the next essential component technology, like GPS, Wi-Fi and Bluetooth before it and is already widely used in smartphones and cars.
“We are thrilled to announce the acquisition of Decawave by Qorvo,” said co-founder and CEO Ciaran Connell. “We have created an incredibly unique technology, but we understand that to embrace the opportunity in front of us, we will need greater resources to execute at scale, accelerate our innovation and product launches and to continue to support our growing customer base with the same level of service.
“Joining forces with Qorvo’s leading expertise in RF technology, their experience in serving very high-volume markets like Mobile but also the thousands of customers in Industrial and Enterprise, is, for Decawave, a perfect combination to scale and further accelerate the adoption of IR-UWB.”
Eric Creviston, president of Qorvo mobile products, said; “We’re very pleased to welcome the Decawave team, which we believe will enhance Qorvo’s product and technology leadership while expanding new opportunities in mobile, automotive and IoT.
“We look forward to building on the ground-breaking work that Decawave has done and helping to drive new applications and businesses using their unique UWB capability.”
Decawave has previously raised over $50 million in funding with investors including Dublin-based equity fund Atlantic Bridge Ventures, Enterprise Ireland, Irish VC firm Act Venture Capital, and the $100 million China Ireland Growth Technology Fund.
The company is headquartered in Dublin but has international offices in the US, China, South Korea, France and Japan.
By Stephen Larkin
Published: 31 January, 2020