Ireland-based indoor location technology provider Decawave, previously backed by electronics producer LG and semiconductor manufacturer ST Electronics, agreed to an acquisition by semiconductor technology provider Qorvo. The exact terms of the transaction were not disclosed but the deal was reportedly sized at approximately $400m and was an all-cash transaction. Qorvo expects the acquisition to bolster opportunities in the mobile, automotive and internet-of-things sectors.
Founded in 2007, Decawave develops and manufactures semiconductors and software which enable real-time precise indoor positioning. It also provides modules and reference designs for clients to develop applications and reduce their time to market. Its impulse radio ultra-wideband (IR-UWB) technology has already been used in millions of smartphones and cars, and across more than 40 verticals. Decawave expects the deal to increase international market adoption and accelerate technology development and product launches.
The transaction is one of the few exits involving corporate backers from Ireland-based businesses, so its size is notable. GCV Analytics has tracked only 64 corporate-backed rounds raised by Ireland-based emerging enterprises since 2011.
