Crossbow Technology Acquisition
Last week, MEMSIC announced the acquisition of selected product lines, intellectual property and fixed assets from Crossbow Technology, Inc. The transaction extends MEMSIC’s sensor integration and solution capabilities, expands its product lines, and strengthens its sales and marketing capabilities.
As part of the acquisition, engineers from Crossbow have joined MEMSIC’s global engineering team, adding significant sensor system integration and solution talent. Selected sales and marketing personnel have also joined MEMSIC, expanding its customer reach and enabling a seamless transition for Crossbow’s large customer base.
The acquisition price of $18 million in cash included the non-military portion of Crossbow Technology’s Inertial Systems business lines and its Wireless Sensor Network (WSN) “Mote” and eKo environmental monitoring business lines. These business lines accounted for approximately $10 million in sales annually by Crossbow.
Founded in 1995 and headquartered in San Jose, California, Crossbow Technology, Inc. was the leading end-to-end solutions supplier of wireless sensor networks and inertial sensor systems. Crossbow shipped over 500,000 sensors to more than 1,000 customers, including select Fortune 100 companies, for diverse applications such as industrial, aerospace, and environmental control.
Complete article available here
Excellent blog and post!
First, the Chinese Premier talks about the Internet of Things… and now, MEMSIC buys the motes from Crossbow and explicitly says that “An important goal of the acquisition will be to drive down the cost of Crossbow’s products by taking full advantage of MEMSIC’s manufacturing platform in China. The acquisition will also enable MEMSIC to leverage the many financial incentives offered by the Chinese government to attract high-tech growth”.
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…Interesting