Nordic to acquire AI/ML technology in the US
2023
OSLO, NORWAY / AUGUST 15TH, 2023 / Nordic Semiconductor today announced it has entered into an agreement to acquire the IP portfolio of US-based artificial intelligence and machine learning company Atlazo. The agreement, at an undisclosed sum, includes employment agreements with Atlazo’s core team of eight people.
Atlazo, based in San Diego, is a technology leader in artificial intelligence and machine learning (AI/ML) processors, sensor interface design and energy management for tiny edge devices. The acquisition will further strengthen Nordic’s leading position in the development of low-power products and solutions for IoT and accelerate ongoing strategically important development initiatives.
Nordic’s acquisition of the Atlazo IP and team gives Nordic ownership of cutting edge AI/ML technology, advanced sensor front end technology for health-related applications, and on-device technology allowing any computing processor to operate at the lowest possible energy point for a given task.
The increasing importance of edge devices has led to a larger demand for more computing power, advanced services, and intelligence at the network edge. To meet these demands, Nordic intends to leverage Atlazo’s hyper-low-power AI/ML processor technology in future SoCs, enhancing the company’s market offerings across many of the market verticals Nordic operates in and across the company’s technology offering. With the integration of Atlazo sensor technologies for health applications, Nordic can better serve the expanding smart health markets, including optical heart monitoring, continuous glucose monitoring, and other wearable technologies.
“This brings a new level of always-on AI/ML capabilities and technologies that will strengthen our core business and continue to expand our market opportunity in line with our growth strategy,” said Nordic EVP Strategy and Product Management Kjetil Holstad.
”While this is a small bolt-on acquisition for Nordic, we consider it to be strategically significant. Adding this group of highly experienced engineers and their intellectual property is an excellent fit with Nordic’s ongoing product development. We are confident that this integration will accelerate our progress towards ultra low-power AI/ML, and anticipate that we will begin to see the initial benefits of this acquisition within 12-18 months of closing the transaction.” said Svenn-Tore Larsen, CEO at Nordic Semiconductor.
The acquisition covers all IP and certain other assets of Atlazo, and the location in San Diego will become Nordic’s third R&D site in the US. Nordic earlier this year completed the acquisition of Mobile Semiconductor in Seattle, and also has an office in Portland, Oregon.
The transaction is dependent on regulatory approval, and completion of the transaction is expected by the end of 2023.
SOURCE: Nordic Semi News
About Atlazo
Atlazo is a leader in always-on AI processor, sensor interface design and energy management for tiny edge devices. Founded in 2016, the company is dedicated to addressing the global demand for smarter and more power efficient tiny devices targeting the rapidly growing market for smart true wireless stereo (TWS) earbuds, hearing aids, wearables and health-monitoring devices. Atlazo brings cutting edge innovations in hyper-low power semiconductor design, on-device AI processor, and accurate sensing.
About Nordic
Nordic Semiconductor is a Norwegian fabless semiconductor company specializing in wireless communication technology that powers the Internet of Things (IoT). Nordic was established in 1983 and has more than 1500 employees across the globe. Their award-winning Bluetooth Low Energy solutions pioneered ultra-low power wireless, making us the global market leader. Nordic’s technology range was later supplemented by ANT+, Thread and Zigbee, and in 2018 they launched our low power, compact LTE-M/NB-IoT cellular IoT solutions to extend the penetration of the IoT. The Nordic portfolio was further complemented by Wi-Fi technology in 2021.
Nordic built our market reputation by supplying leading-edge wireless technologies supported by development tools that shield the designer from RF complexity, allowing anyone with a bright idea to build innovations based on the IoT platform. Today, their award-winning, high-performance, yet easy to design-in, Bluetooth LE solutions are used by the world’s leading brands in a variety of products, including wireless PC peripherals, gaming, sports and fitness, mobile phone accessories, consumer electronics, toys, healthcare and automation. Nordic is a member of the ANT+ Alliance, Bluetooth SIG, Thread Group, Connectivity Standards Alliance, Wi-Fi Alliance, and GSMA.
About EvoNexus
EvoNexus is California’s leading nonprofit technology startup incubator located in San Diego. EvoNexus has successfully incubated over 260 startups with a survival rate of over 85%. Since the incubator’s formation in 2010, EvoNexus companies have secured over $1.6B in venture funding, $10B in pre-exit valuation, and had 50 acquisitions valued at over $2.1B. EvoNexus is supported by corporate partners, including some of the largest multinational corporations in the world. Learn more at evonexus.org.
