(Oslo, Norway - November 30, 2020) Nordic Semiconductor expands into Wi-Fi by
acquiring the entire Wi-Fi development team, core Wi-Fi expertise, and Wi-Fi IP
tech assets of Imagination Technologies Group Ltd - for an undisclosed sum. The
Wi-Fi asset includes Wi-Fi 4, 5, and 6, and a large portfolio of Wi-Fi and Wi-Fi
related patents.<br />
<br />
"Wi-Fi has long been the "number one" missing capability requested by our
customers and with this acquisition we merge a world-class Wi-Fi development
team into our organization. This team has a proven track-record of delivering
state-of-the-art Wi-Fi solutions, and will make Nordic one of few companies able
to offer all three of the world's most popular wireless IoT technologies:
Bluetooth, Wi-Fi, and cellular IoT", says CEO Svenn-Tore Larsen in Nordic
Semiconductor.<br />
<br />
Nordic is already a global leader in low-power solutions for Bluetooth and an
emerging leader in cellular IoT. With the addition of Imagination's Wi-Fi
development team and IP assets the company intends to develop new low-power
Wi-Fi solutions and bring to market disruptive new products that combine Wi-Fi,
Bluetooth Low Energy and/or cellular IoT.   <br />
<br />
Adding Wi-Fi functionality to future generations of Nordic products will expand
Nordic's addressable market significantly. The new Wi-Fi 6 standard allows for
faster data throughput, higher capacity in dense networks, increased security,
and lower power usage, which will enable many new application areas and
battery-powered IoT devices. Nordic's focus will be on leveraging synergies to
create high customer value from a platform that unifies all major wireless
technologies. As part of this, the company will become an active member of the
Wi-Fi Alliance and work with the community to maximize the application potential
of low power Wi-Fi. <br />
<br />
The acquisition increases Nordic's R&D staff by approximately 80 people across
several locations in the UK, Sweden, India and Taiwan. The team also includes
Bluetooth low energy specialists who will further strengthen Nordic's existing
R&D team in this area.  As a result of the acquisition, Nordic expects annual
R&D spend to increase by USD 10-12 million, leading to a meaningful revenue
contribution from Wi-Fi products within three years. <br />
<br />
Although Wi-Fi was born in the consumer sector, it is now rapidly gaining
traction within the industrial IoT space," states Imagination Technologies CEO,
Simon Beresford-Wylie.<br />
"With Imagination's strong focus on graphics, vision, and AI processing, we feel
our Wi-Fi IP division will thrive much better long-term within a company that
has wireless connectivity at its center and where it will become a major focus
of strategic, technological, and commercial innovation and growth. We are
extremely happy to have found such a good home for the technology and the team
at Nordic Semiconductor: It's a perfect match."<br />
<br />
For additional information, please contact:<br />
<br />
Pål Elstad, CFO Nordic Semiconductor ASA, +47 991 66 293<br />
Steel Ytterdal, Director of IR Nordic Semiconductor ASA +47 930 37 430<br />
<br />
About Nordic Semiconductor: <br />
Nordic Semiconductor has been a pioneer in ultra-low power wireless solutions,
from proprietary technologies for PC accessories to today's Bluetooth low energy
and multiprotocol products and long-range cellular IoT solutions. Nordic
Semiconductor is the clear market leader in the ultra-low power wireless
segment, serving a growing market in consumer electronics, wearables, building
and retail, healthcare and an increasing number of other verticals and
applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo
stock exchange in Norway. <br />
<br />
This information is subject to the disclosure requirements according to Chapter
5 in the Norwegian Securities Trading Act and Chapter 3 of Oslo Stock Exchange's
Continuing Obligations of stock exchange listed companies.<br />
<br />
<br />
About Nordic Semiconductor ASA<br />
https://www.nordicsemi.com/About-us<br />
<br />
About Imagination Technologies<br />
https://www.imaginationtech.com