SAN FRANCISCO—South Korea's Samsung Electronics Co. Ltd. said Friday (June 1) it acquired Nanoradio AB, a Swedish developer of ultra low-power wireless LAN chipsets for mobile phones, for an undisclosed sum.
Nanoradio (Kista, Sweden) specializes in developing small form factor high performance Wi-Fi chipsets with low power consumption for cellular platforms. The firm has about 60 employees.
Samsung (Seoul, South Korea) did not disclosed any details about the transaction or its plans for Nanoradio.
Nanoradio, founded in 2004, had raised at least $73 million in venture funding, including $17 million from a group of several venture capital firms in 2010. In 2011, Nanoradio was named to Deloitte LLP's ranking of the 500 fastest growing technology companies in Europe, the Middle East and Africa, placing 37 with a listed growth rate of 2,929 percent.
In 2009, Nanoradio announced it would supply Sharp Electronics Corp. with Wi-Fi chipsets for an integrated low power Wi-Fi system in package.