ARM spin out sold for ?10.6m

ARM spin-out sold for £10.6m

Source: www.cabume.co.uk


Cognovo, the Cambridge wireless technology company founded by the team that built TTPCom and sold it to Motorola over £100m, has been acquired by quoted Swiss firm, u-blox for $16.5m (£10.6m).

Cognovo specialises in ‘software defined modems,’ an approach that treats the various wireless standards as ‘apps’ running on an operating system, potentially saving OEMs a great deal of time and money on chip development.

Cognovo was founded in 2009. The foundation of the technology is Ardbeg Vector Signal Processor technology, spun out from ARM, which also contributed investment and representation on the company’s board.

u-blox said that Cognovo’s 30 strong team and business would be integrated into its organisation.

“This is a very exciting acquisition for u-blox as it positions us as an agile and cost-effective supplier of high-speed wireless modem products based on our own chip IP. This allows us to meet market demand for connected systems that require positioning, connectivity and application specific functionality on a single integrated circuit,” said Thomas Seiler, u-blox CEO in the press statement.

“This new foundation broadens our serviceable market, and will increase our margins in the automotive, consumer and industrial sectors. Our first 4G product is planned for 2013.”

Executive chairman of Cognovo is Tony Milbourn, latterly founder and  CEO at TTPCom, while CEO is Gordon Aspin, formerly COO at TTPCom.