The agreement, at an undisclosed sum, includes employment agreements with Atlazo’s core team of eight people.
Atlazo, based in San Diego, is a technology leader in artificial intelligence and machine learning (AI/ML) processors, sensor interface design and energy management for tiny edge devices. The acquisition will help to strengthen Nordic’s position in the development of low-power products and solutions for IoT and accelerate ongoing strategically important development initiatives.
Nordic’s acquisition of the Atlazo IP and team gives Nordic ownership of cutting edge AI/ML technology, advanced sensor front end technology for health-related applications, and on-device technology allowing any computing processor to operate at the lowest possible energy point for a given task.
The increasing importance of edge devices has led to a larger demand for more computing power, advanced services, and intelligence at the network edge. To meet these demands, Nordic said that it intends to leverage Atlazo's hyper-low-power AI/ML processor technology in future SoCs, enhancing the company’s market offerings across many of the market verticals Nordic operates in and across the company’s technology offering.
With the integration of Atlazo sensor technologies for health applications, Nordic can better serve the expanding smart health markets, including optical heart monitoring, continuous glucose monitoring, and other wearable technologies.
“This brings a new level of always-on AI/ML capabilities and technologies that will strengthen our core business and continue to expand our market opportunity in line with our growth strategy,” said Nordic EVP Strategy and Product Management Kjetil Holstad.
”While this is a small bolt-on acquisition for Nordic, we consider it to be strategically significant. Adding this group of highly experienced engineers and their intellectual property is an excellent fit with Nordic's ongoing product development. We are confident that this integration will accelerate our progress towards ultra-low-power AI/ML, and anticipate that we will begin to see the initial benefits of this acquisition within 12-18 months of closing the transaction.” said Svenn-Tore Larsen, CEO at Nordic Semiconductor.
The acquisition covers all IP and certain other assets of Atlazo, and the location in San Diego will become Nordic’s third R&D site in the US.
The transaction is dependent on regulatory approval, and completion of the transaction is expected by the end of 2023.
