Sony has announced an agreement to acquire Israel-based chip technology and LTE software provider Altair Semiconductor for a deal worth $212 million (£148.5m).
Sony expects to complete the acquisition in early February 2016. The use of LTE is currently ubiquitous in data communication for mobile phones and the technology is expected to play a key role in the Internet of Things. As time goes by, more and more “things” will get connected while accessing network services that make use of cloud computing.
Following the acquisition, Sony aims to expand Altair's existing business and move ahead with research on and development of new sensing technologies. Sony is bent on developing a new generation of cellular-connected, sensing component devices that rely on the company’s GNSS and Altair’s modem chip technology.
Sony aims to tap the markets for wearable and IoT devices that are slated to see further growth by offering component devices that feature both sensing and communication capabilities, as well as new LTE solutions. No material impact is anticipated on Sony's consolidated financial results for the fiscal year ending March 31 2016 as a result of this acquisition.
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