Thursday, December 13, 2007

u-Nav Acquired By Atheros

Irvine-based u-Nav Microelectronics, a firm which develops global positioning system (GPS) chipsets, has been acquired by Santa Clara-based Atheros Communications. Atheros said late Thursday that it will pay $54M for u-Nav, made up of $15.4M in cash plus 1.28 million shares of Atheros common stock. The deal also includes an undisclosed milestone payout to shareholders. According to Atheros, the deal is expected to close this year. U-Nav is venture backed by iSherpa Capital, Nordic Venture Partners, and Shelter Capital Partners, among others.

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