By Kim Richters

STMicroelectronics NV said Thursday that it has agreed to buy BeSpoon and assets from Riot Micro to boost its wireless connectivity capacities.

The European chip maker didn't disclose any financial terms of the transactions, which it said are subject to regulatory approvals.

It will take over France-based BeSpoon, which makes ultra-wide-band communications technology, from German manufacturer Trumpf GmbH + Co. KG as well as its founders. Trumpf and STMicroelectronics will enter a strategic partnership.

STMicroelectronics will also acquire Canada-based Riot Micro's cellular internet-of-things connectivity assets.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 16, 2020 09:56 ET (13:56 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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