u-blox acquires 4M Wireless
Also a variant of the products is licensed to manufacturers of 4G test equipment. 4M Wireless was founded in 2006 and has headquarters in the UK and operations in Lahore, Pakistan’s center for technology and higher education. The company has been profitable over the past 3 years.“4M Wireless adds leading edge know-how in the area of next-generation wireless technology that will operate over 4G networks worldwide” said Thomas Seiler, CEO of u-blox. “Their proven software and test solutions and impressive customer list also brings u-blox immediate new licensing revenues in Europe, Asia and America”.“We are very pleased to be part of an important and growing global company such as u-blox and to expand its wireless service capabilities” said Atif Malik, CEO of 4M Wireless. “As part of u-blox we will strengthen services and support to our product licensees and continue the LTE protocol stack roadmap.” Key terms of the transaction include:Acquisition of 100% of the shares of 4M Wireless at a price of approximately 9 million US Dollars, depending on earn-outIntellectual property and software in the area of LTE wireless technologyIntegration of the 4M Wireless business and employees into u-blox’ organizationThe acquisition is subject to customary closing conditions and pending regulatory approval. Closing is expected by September 2012.