Semtech buys EnVerv to increase smart grid offering
January 21, 2015
California-based Semtech, a supplier of analogue and mixed-signal semiconductors, has completed the acquisition of the assets of EnVerv, a privately-held supplier of powerline communications (PLC) and smart grid systems targeted at advanced metering infrastructure, home energy management systems and IoT applications.
As well as the asset acquisition, EnVerv employees have joined Semtech; EnVerv is also based in California. Semtech expects the acquisition to be neutral to its full year fiscal 2016 results. Terms of the transaction were not disclosed.
PLC technology enables communications via low and medium-voltage power lines providing an effective means for communications for global utility providers implementing smart metering and for telecoms service providers implementing home gateways. The PLC technology is complementary to Semtech's LoRa platforms, enabling the company to deliver a single platform that provides as close to 100% network coverage as possible in metering, M2M and IoT markets.
"We are pleased to welcome the EnVerv team to Semtech,” said Mohan Maheswaran, president and chief executive officer of Semtech. “The acquisition is consistent with our philosophy of acquiring key system level competencies that position Semtech for future growth in targeted application segments.”
He said he believed that the smart home and smart grid were still in their early stages of global development.
“Having both PLC and wireless technologies positions us well to take advantage of both segments," he said. “PLC technology is highly complementary to our current wireless LoRa solutions and expands Semtech's available market beyond the industrial wireless segment into the industrial PLC market and the residential gateway market.