Enterprise Iot, Infrastructure

Norbit Completes IoT Start-up CPS AS Acquisition and Issues New Shares

NORBIT ASA | February 06, 2023 | Read time : 01:32 min

norbit-completes-iot-start-up

NORBIT, a leading supplier of customized technology solutions, has completed the acquisition of IoT startup CPS AS. CPS will be a part of the Connectivity segment. The transaction places an enterprise value of NOK 13 million on CPS, amounting to an equity value of NOK 12.6 million. It will be financed through consideration shares and cash.

The consideration shares will be issued at a price equal to the five-day volume-weighted share price of NORBIT ASA before the signing of the share purchase agreement, with a total value of NOK 9.0 million. The cash payment will amount to NOK 3.6 million.

As part of the transaction's partial settlement, the board has decided to issue 298,059 consideration shares to the sellers at NOK 30.25107 per share. The resolution is based on the company's annual meeting on 4 May 2022 authorization to increase the share capital. After registration of the increase in share capital in the Norwegian Register of Business Enterprises, NORBIT's share capital will be 59,199,198 at a par value of NOK 0.10, totaling NOK 5,919,919.80.

About NORBIT ASA

NORBIT ASA Headquartered in Trondheim (Norway), NORBIT is a global provider of niche-specific technology, addressing problems with sustainable and innovative solutions. To work with key markets, the company is divided into three business units: Oceans focuses on global maritime markets, Connectivity offers low-power wireless solutions for monitoring, identification, and tracking of vehicles and other valuable assets; and PIR (Product Innovation and Realization) provides R&D services and contract manufacturing. The company has roughly 400 employees and operates a global sales and distribution platform.

Spotlight

IDC’s research demonstrates that enterprise organizations are prioritizing digital infrastructure (DX) resiliency as a foundational element of their IT strategy. Organizations are looking for richer levels of visibility, cross-platform control, advanced data management, and protection that spans the entire ecosystem, including public or private cloud, on premises, colocation facility, and edge. DX initiatives rely on data-driven insights to deliver competitive differentiation, increased customer engagement, streamlined business operations, increased staff productivity, and growth in revenue and profitability. IT infrastructure is one of the crucial pillars of DX. In fact, DX cannot succeed without IT transformation, aligned with business strategy to meet or exceed service-level objectives for data-driven insights. Because of this realization, organizations are now focused on managing outcomes instead of IT infrastructure and looking to vendors and partners to help reach this goal.

Spotlight

IDC’s research demonstrates that enterprise organizations are prioritizing digital infrastructure (DX) resiliency as a foundational element of their IT strategy. Organizations are looking for richer levels of visibility, cross-platform control, advanced data management, and protection that spans the entire ecosystem, including public or private cloud, on premises, colocation facility, and edge. DX initiatives rely on data-driven insights to deliver competitive differentiation, increased customer engagement, streamlined business operations, increased staff productivity, and growth in revenue and profitability. IT infrastructure is one of the crucial pillars of DX. In fact, DX cannot succeed without IT transformation, aligned with business strategy to meet or exceed service-level objectives for data-driven insights. Because of this realization, organizations are now focused on managing outcomes instead of IT infrastructure and looking to vendors and partners to help reach this goal.

Related News

Infrastructure

Infineon further extends its edge AI capabilities and choice-of-platforms for ML-based models for Bluetooth customers by partnering with Edge Impulse

Businesswire | July 07, 2023

Infineon Technologies AG today announced it is teaming with Edge Impulse to extend its Tiny Machine Learning-based AI development tools for the PSoC™ 63 Bluetooth® LE microcontroller (MCU). Developers of AI-enabled IoT applications can now also build edge Machine Learning (ML) applications using the Edge Impulse Studio environment for deployment on high-performance, low-power PSoC 63 Bluetooth LE MCUs. This collaboration allows customers added flexibility and choice-of-platforms to natively develop and configure ML applications for systems based on PSoC 63 Bluetooth LE MCU devices, which provide 150-MHz Arm® CPU performance with low-power connectivity and a rich suite of peripheral options. For example, the CY8CKIT-062-BLE Pioneer Kit coupled with the E-Ink Display Shield Board (CY8CKIT-028-EPD) incorporates an inertial measurement unit, microphone, and temperature sensor. This supports applications that collect real-world sensor data for processing by Tiny Machine Learning-based AI models in systems optimized for low-power, low-cloud-cost edge IoT environments. Infineon’s PSoC 63 Bluetooth LE MCU devices feature a dual-core Arm® Cortex®-M4F and Arm Cortex-M0+ chip architecture, Bluetooth LE 5.2, configurable voltage and frequency settings, built-in hardware-based security, state-of-the-art capacitive interfaces, and more, on a single chip. As the only 150 MHz Bluetooth LE MCU on the market, this variant of the Infineon PSoC device family is a powerful combination of power efficiency, size, and programmability, making it perfectly suited for edge IoT applications that benefit from the ability to run advanced ML algorithms. Edge Impulse’s products streamline the entire process of collecting and structuring data sets, designing algorithms with pre-built building blocks, validating the models with real-time data, and deploying the fully optimized production-ready results to edge targets such as the PSoC 63 Bluetooth LE MCU. “By collaborating with Edge Impulse on the PSoC 63 Bluetooth LE MCU, Infineon customers can bring their solutions faster to market for embedded AI/ML use cases. Infineon is committed to enable our customers to develop their own AI/ML models, or use a model out of a suite of predefined models available from Infineon or our valuable partners. Infineon is excited to add Edge Impulse to our growing partner network, and will continue to work with our extensive group of AI/ML partners that complements our offerings,” said Shantanu Bhalerao, Vice President of the Bluetooth Product Line at Infineon. “With its advanced processing capabilities and low power consumption, the PSoC 63 Bluetooth LE MCU is an ideal vehicle for the next generation of edge devices, from wearables to industrial monitoring,” said Zach Shelby, CEO and co-founder of Edge Impulse. “Matched with the Edge Impulse platform, embedded developers can more quickly develop and deploy powerful solutions for an exciting range of edge ML applications.” About Edge Impulse Edge Impulse enables all enterprises to build smarter edge products. Their technology empowers developers to bring AI solutions to market faster, and helps enterprise teams rapidly develop industry-specific solutions in weeks instead of years. Edge Impulse provides powerful automation and low-code capabilities to make it easier to build valuable datasets and develop advanced AI with streaming data. With over 75,000 developers, and partnerships with the top silicon vendors, Edge Impulse offers a seamless integration experience to validate and deploy with confidence across the largest hardware ecosystem. More information about Edge Impulse is available at www.edgeimpulse.com. About Infineon Bluetooth Products With more than one billion devices shipped, Infineon’s AIROC™ Bluetooth and Bluetooth Low Energy devices are the first choice for IoT solutions. The broad portfolio includes high-performing, reliable, ultra-low-power products that deliver robust industry-leading performance.

Read More

Industrial IoT, Platforms, Security

Telit Cinterion Announces Sale of Its Cellular Automotive Module Unit to Kontron

Prnewswire | July 04, 2023

Telit Cinterion, a global leader in the Internet of Things (IoT), and Kontron AG (KTN:GR), a global supplier of smart IoT solutions and professional IT services, today jointly announced that they have entered into a binding agreement under which Telit Cinterion will sell its cellular automotive IoT product business to Kontron. The intended transaction includes Telit Cinterion's complete portfolio of cellular automotive wireless communication modules, ranging from 4G LTE to 5G. The expected transaction reaffirms California-based Telit Cinterion's market position as the leading Western provider of cybersecure IoT solutions, and the company's growing reach in key industrial IoT segments and end markets including energy, telematics, e-health, broadband, and security & surveillance. With approximately 4,500 employees across 21 countries, Kontron is a technology provider to top global brands. The company posted sales of EUR 1,342 million in 2022. The intended transaction will be submitted to the relevant workers' councils. The transaction is expected to close in Q3 2023, subject to regulatory approvals and other customary closing conditions. Kontron and Telit Cinterion customers and partners will continue to receive the outstanding supply, support, and service to which they have been accustomed. All relevant parties will receive updates throughout the transaction, upon closing and ensuing integration period. About Telit Cinterion Telit Cinterion is a global enabler of the intelligent edge providing complete solutions that reduce time to market and costs, delivering custom designed, ready for market connected devices in addition to maintaining the industry's broadest portfolio of enterprise-grade wireless communication and positioning modules, cellular MVNO connectivity plans and management services, edge-cloud software and data orchestration, and IoT and Industrial IoT platforms. As the largest western provider pioneering IoT innovation, Telit Cinterion delivers award-winning and highly secure IoT solutions, modules and services for the industry's top brands. About Kontron Kontron AG (www.kontron.com, ISIN AT0000A0E9W5, WKN A0X9EJ, KTN) is a leading IoT technology company. For more than 20 years, Kontron has been supporting companies from a wide range of industries to achieve their business goals with intelligent solutions. From automated industrial operations, smarter and safer transport to advanced communications, medical and energy solutions, the company delivers technologies that add value for its customers. Kontron is listed on the SDAX® of the German Stock Exchange and has around 4,500 employees with subsidiaries in more than 20 countries around the world.

Read More

Infrastructure, Certifications and Training

Renesas to Acquire Cellular IoT Technology Leader Sequans Through Tender Offer

businesswire | August 09, 2023

Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, and Sequans Communications S.A. (NYSE: SQNS, “Sequans”), a leader in 5G/4G cellular IoT chips and modules, today announced that the two companies have entered into a memorandum of understanding (the “MoU”). Pursuant to the terms of the MoU, Renesas will, following consultation of the Sequans’ works council and favorable recommendation by the Sequans Board, commence a tender offer to acquire all outstanding ordinary shares, including American Depositary Shares (ADS) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash. The transaction values Sequans at approximately $249 million, including net debt, and is expected to close by the first quarter of calendar year 2024, subject to confirmation of tax treatment from relevant authorities, regulatory approvals and other customary closing conditions. Upon closing of the transaction, Renesas intends to integrate Sequans’ breadth of cellular connectivity products and IP into its core product lineup, including microcontrollers, microprocessors, analog and mixed signal front ends. The acquisition will allow Renesas to immediately expand its reach to the Wide Area Network (WAN) market space encompassing a broad range of data rates. It will also enhance Renesas’ already rich portfolio of Personal Area Network (PAN) and Local Area Network (LAN) connectivity products. The market for cellular IoT technology provided by companies like Sequans is growing rapidly, fueled by demand for smart meters, asset tracking systems, smart homes, smart cities, connected vehicles, fixed wireless access networks, and mobile computing devices. An industry study forecasts the number of cellular IoT devices will continue to grow by more than 10 percent annually. “We are thrilled to take our partnership with Sequans to the next level,” said Hidetoshi Shibata, President and CEO of Renesas. “Sequans is a leader in the fast-growing cellular IoT market with wide cellular IoT network coverage. The company’s technology gives Renesas a path to offer broad connectivity capabilities across IoT applications to address the evolving customer needs.” “We have been working closely with Renesas to serve the growing market demand for massive IoT and broadband IoT customers,” said Georges Karam, Chairman and CEO of Sequans. “As many telecom operators around the world continue to invest in 5G infrastructure and with the expanding deployment of IoT applications, combining with Renesas opens up vast opportunities to usher in a new era of seamless connectivity and digital mobility that can transform a multitude of industries.” The acquisition of Sequans is the latest effort by Renesas to expand its offering of connectivity products through strategic acquisitions, including the purchases of Dialog, Celeno and, most recently, Panthronics. Renesas and Sequans have been collaborating since 2020 to deliver full-scale solutions that combine Renesas’ embedded processors and analog front-end products with Sequans’ wireless chipsets for massive IoT and broadband IoT applications. Founded in 2003, Sequans is a fabless semiconductor company that designs and develops chipsets and modules for Internet of Things (IoT) devices. Offering products with extensive 5G/4G cellular categories, including 5G NR, Cat 4, Cat 1 and LTE-M/NB-IoT, Sequans provides reliable IoT wireless connectivity without the need for a gateway. The company also has proven expertise in low-power wireless devices, which is crucial in supporting massive IoT applications operating at low data rates. Its certified solutions are designed to work with all major radio frequency regulatory specifications by leading carriers in North America, Asia-Pacific and Europe. About Sequans Communications Sequans Communications S.A. is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China.

Read More