Nordic agrees to buy UWB specialist Novelda
October 18, 2024
Wireless chip vendor Nordic Semiconductor ASA (Trondheim, Norway) has agreed to buy fellow Norwegian and UWB specialist chip company Novelda AS (Oslo, Norway) for an undisclosed sum.
The parties have signed a Letter of Intent (LOI) and the acquisition is subject to satisfactory due diligence, final board approval and certain other conditions.
Novelda’s experience is in using ultra-wideband RF for sensing, such as occupancy detecton, and is complementary to Nordic’s position in low-power wireless communications.
The due diligence processes is planned to be concluded by the end of November.
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