Newport Media Acquired By Atmel For $140M

Lake Forest-based Newport Media, which develops low power Wi-Fi and Bluetooth chipsets, has been acquired by Atmel, in a deal worth $140M in cash. According to Atmel, it will use the buy to strengthen its position in the Internet-of-Things (IoT) market. The deal also includes up to $30M more in earn out, based on future revenue thresholds. NMI offers up both 802.11n Wi-Fi and Bluetooth products, which it has been selling into the industrial, home and building automation, and consumer products markets. Atmel said that Newport Media had $43 million in annual revenue during 2013.