Analysis

InvenSense to acquire Movea & TPI

8th July 2014
Staff Reporter
0

InvenSense has signed a definitive agreement to acquire Movea, a provider of software for ultra-low power location, activity tracking and context sensing. Movea's work in algorithms and software framework is expected to further scale InvenSense's leadership in motion software and accelerate InvenSense's 'AlwaysOn' low-power solutions for mobile and the IoT.

Alongside this announcement, InvenSense has also signed a definitive agreement to acquire Trusted Positioning (TPI), a privately-held indoor/outdoor positioning software company with the vision to provide 'Positioning Everywhere'. TPI's location tracking technology improves accuracy both indoors and outside by augmenting GNSS and Wi-Fi based location infrastructure. Using inertial sensors such as accelerometers, gyroscopes, magnetometers, and pressure sensors in mobile and wearable devices, TPI's software platform provides continuous and accurate positioning and also solves the difficult problem of alignment between the user and the mobile device. The TPI platform provides complete inertial navigation software solutions for a variety of industries including smartphones, tablets, wearables, in-vehicle navigation, personnel tracking, and machine guidance and control.

In connection with the acquisition of both companies, InvenSense expects to pay approximately $81 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Movea and Trusted Positioning Inc. The purchase price will be paid with $6M of InvenSense common stock and the remainder in cash, except that portion attributable to unvested employee stock options will be paid in stock options exercisable for shares of InvenSense's common stock. The transactions are expected to close by the end of InvenSense's second quarter, September 30, 2014 and remains subject to the satisfaction of regulatory requirements and other customary closing conditions.
 
"With the addition of Movea and TPI, InvenSense achieves a significant milestone as it transitions to a leading provider of intelligent sensor System on Chips (SoC) for the fast growing mobile market. 'AlwaysOn' location and activity tracking are essential to enabling contextually-aware products and services," said Behrooz Abdi, President and Chief Executive Officer, InvenSense, Inc. "The tight integration of our low-power, high performance, motion and sound sensors, along with TPI's advanced location tracking software and Movea's data fusion algorithms will position us to deliver on this 'AlwaysOn' promise.  We're excited to welcome these two top tier organizations into our world class MEMS, SoC and software R&D team as we continue to deliver innovative and highly differentiated products to our customers and eco-system partners."
 
Movea's Chief Executive Officer, Sam Guilaumé, said, "the combination of Movea's strong product and patent portfolios with InvenSense's industry leading motion and sound SoC solutions will bring value to customers by reducing risk, cost and time-to-market as they deliver compelling new features that differentiate their products and deliver more end-user value."
 


Featured products

Upcoming Events

View all events
Newsletter
Latest global electronics news
© Copyright 2024 Electronic Specifier