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Samsung Company buys Swedish Nanoradio Company

Monday, 04 June 2012
Samsung Electronics announced today that it has acquired Nanoradio AB, a developer of ultra low power Wireless LAN chipsets for high-speed wireless access in mobile phones. Nanoradio is a small company with 60 employees.

Nanoradio was founded in Kista in 2004 by entrepreneur Pär Bergsten. The company's small and low-power WiFi chips in cell phones is designed and sold to several manufacturers, including Korean Samsung.

Now Samsung Electronics has decided to buy the company in what is being seen as a strategic move to consolidate the supply of key part and to barricade out compatitors. The purchase price is not made public.

“Operations must be retained and expanded in Kista, according to the information we have received,” says Dan Ekelund the Industrial Development Fund, ex-Nano Radio's board of directors since 2004.

He describes Nanoradio as "absolutely the best in the world" in radio skills on the radio frequencies used for WiFi and Bluetooth.

It took a lot of venture capital to develop circuits and reach the market. In addition to Industrial Development Fund, there are long lists of venture capital firm that have invested in the company: Viking Venture, Creandum, Nordic Venture Partners, Ferd Capital, Innovacom, Anchor Capital and Teknoinvest.

“Nano-Radio is one of the largest venture capital investments in the Nordic countries over the past ten years,” says Dan Ekelund.

The total investment is not revealed. But in 2010 Nanoradio for the third time entered the New Technology and Business World’s at number 33 as Sweden's most promising young technology companies. The company stated that it brought in Skr530 million in venture capital.
See the press release announcing the sale here
By Scancomark.se Team



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