CEVA Acquires RivieraWaves for $19 million
10 July, 2014
Gideon Wertheizer, CEO of CEVA: "RivieraWaves enable us to further expand into the connectivity IP space, including the most advanced standards in Wi-Fi and Bluetooth."
The addressable market for CEVA is expected to exceed 35 billion connected devices by 2020
The IP provider for Semiconductors computing cores, CEVA, Inc. from Herzliya, Israel, announced that it has acquired RivieraWaves, a privately held company and a leading provider of wireless connectivity IP for Wi-Fi® and Bluetooth technologies.
Under the terms of the agreement, CEVA will pay approximately $19 million to acquire RivieraWaves. It will make an initial payment of approximately $12 million at closing with the rest payable upon satisfaction of certain performance and other milestones.
Gideon Wertheizer, CEO of CEVA, commented: “RivieraWaves in an excellent acquisition fit for CEVA, enabling us to further expand into the connectivity IP space, including the most advanced standards in Wi-Fi and Bluetooth.”
RivieraWaves expands CEVA’s licensing and royalty revenue base in its existing markets: including smartphones, tablets and small cells, and extends the company’s market reach to include emerging markets such as wearables, the smart home, connected cars and the Internet of Things (IoT). Collectively, CEVA’s addressable market is expected to exceed 35 billion connected devices by 2020, according to ABI Research.
RivieraWaves is specializing in wireless connectivity platforms for integration into high volume, System-on-Chips (SoCs). Its latest Wi-Fi 802.11ac and Bluetooth Smart 4.1 IPs are complete solutions, composed of both the PHY and MAC layers along with system and RF support.
CEVA and RivieraWaves have successfully collaborated to address the Wi-Fi market for the last two years. The companies already have multiple joint customers deploying RivieraWaves’ Wi-Fi IP on a CEVA DSP targeting mobile devices and the connected home.
For more information: www.rivierawaves.com.
CEVA is A leading licensor of DSP-based IP platforms for vision, audio, communications and connectivity. In 2013, CEVA’s IP was shipped in more than one billion devices, including 40% of handsets shipped worldwide, powering smartphones from leading OEMs such as Coolpad, HTC, Huawei, Lenovo, LG, Nokia, Samsung, TCL, Xiaomi and ZTE.
For more information: www.ceva-dsp.com.
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