Atmel to Buy Newport Media for $140 Million, Gain Ground in The Internet of Things

Atmel

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. The technology adds to the company’s product base which supports IoT, Schreiner added. Atmel said its chips paired with Newport’s gears can be used in a variety of products ranging from home and building automation equipments to consumer devices that require longer battery life.

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