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Atmel buys Wi-Fi gear maker in push into ‘Internet of Things’

07
Jul
2014

Touchscreen chipmaker Atmel Corp said it would buy Newport Media, a maker of low-power Wi-Fi and bluetooth gear, for $140 million to gain ground in a technology that helps connect everything through the Internet. Atmel’s shares were down 1 percent in early trading on Thursday. With the deal, the chipmaker joins a list of semiconductor companies that are acquiring technologies to position themselves for the trend known as the Internet of Things (IoT). “Low-Power Bluetooth was a technology Atmel planned on buying or building during CY14,” Feltl & Company analyst Jeffrey Schreiner told Reuters.

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