Qorvo® Acquires UWB Software Provider 7Hugs Labs S.A.S.
November 05 2020 - 7:30AM
Qorvo
® (Nasdaq:QRVO), a leading provider of
innovative RF solutions that connect the world, has acquired
Paris-based 7Hugs Labs S.A.S., a leading software provider for
ultra-wideband (UWB) applications. The acquisition of 7Hugs Labs
helps strengthen Qorvo’s UWB product offering for smartphones and
other devices that increase the accuracy of a host of new location
and communication services.
Eric Creviston, president of Qorvo Mobile Products, said, “The
7Hugs Labs team is a great addition to our Mobile Products
business, providing the software talent and expertise to leverage
the unique precision location capabilities of UWB. 7Hugs
Labs’ proven software and software stack complement our UWB chipset
offering and will help enable a host of new ultra-wideband
applications in mobile, IoT and automotive markets.”
Simon Tchedikian, CEO and co-founder of 7Hugs Labs, said, “Our
team is excited to take this next important step in software
development as we build on our commercial success in the UWB
market. Now as part of Qorvo, we look forward to playing a larger
role in helping the industry grow, expediting the integration of
UWB in ways that will truly transform our daily interactions with
technologies.”
7Hugs Labs was founded in 2014 and has been a trusted software
partner for Decawave, which is now the UWB business unit (UWBU)
within Qorvo’s Mobile Product business. As part of Qorvo, the
35-member 7Hugs Labs team will help create complete UWB solutions –
including chips, firmware and software – for a broad ecosystem that
is expected to reach billions of devices in the coming
years.
About QorvoQorvo (Nasdaq: QRVO) makes a better
world possible by providing innovative Radio Frequency (RF)
solutions at the center of connectivity. We combine product and
technology leadership, systems-level expertise and global
manufacturing scale to quickly solve our customers' most complex
technical challenges. Qorvo serves diverse high-growth segments of
large global markets, including advanced wireless devices, wired
and wireless networks and defense radar and communications. We also
leverage unique competitive strengths to advance 5G networks, cloud
computing, the Internet of Things, and other emerging applications
that expand the global framework interconnecting people, places and
things. Visit www.qorvo.com to learn how Qorvo connects the
world.
Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and
in other countries. All other trademarks are the property of their
respective owners.
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans,
objectives, representations and contentions, and are not historical
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“believe,” “estimate,” “predict,” “potential,” “continue” and
similar words, although some forward-looking statements are
expressed differently. You should be aware that the forward-looking
statements included herein represent management’s current judgment
and expectations, but our actual results, events and performance
could differ materially from those expressed or implied by
forward-looking statements. We do not intend to update any of these
forward-looking statements or publicly announce the results of any
revisions to these forward-looking statements, other than as is
required under U.S. federal securities laws. Our business is
subject to numerous risks and uncertainties, including those
relating to fluctuations in our operating results; our substantial
dependence on developing new products and achieving design wins;
our dependence on a few large customers for a substantial portion
of our revenue; a loss of revenue if contracts with the United
States government or defense and aerospace contractors are canceled
or delayed or if defense spending is reduced; the COVID-19
pandemic, which has and will likely continue to negatively impact
the global economy and disrupt normal business activities, and
which may have an adverse effect on our results of operations; our
dependence on third parties; risks related to sales through
distributors; risks associated with the operation of our
manufacturing facilities; business disruptions; poor manufacturing
yields; increased inventory risks and costs due to timing of
customer forecasts; our inability to effectively manage or maintain
evolving relationships with platform providers; risks from
international sales and operations; economic regulation in China;
changes in government trade policies, including imposition of
tariffs and export restrictions; our ability to implement
innovative technologies; underutilization of manufacturing
facilities as a result of industry overcapacity; we may not be able
to borrow funds under our credit facility or secure future
financing; we may not be able to generate sufficient cash to
service all of our debt; restrictions imposed by the agreements
governing our debt; volatility in the price of our common stock;
damage to our reputation or brand; fluctuations in the amount and
frequency of our stock repurchases; our recent and future
acquisitions and other strategic investments could fail to achieve
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and motivate key employees; our reliance on our intellectual
property portfolio; claims of infringement of third-party
intellectual property rights; security breaches and other similar
disruptions compromising our information; theft, loss or misuse of
personal data by or about our employees, customers or third
parties; warranty claims, product recalls and product liability;
and risks associated with environmental, health and safety
regulations and climate change. Many of the foregoing risks and
uncertainties are, and will continue to be, exacerbated by the
COVID-19 pandemic and any worsening of the global business and
economic environment as a result. These and other risks and
uncertainties, which are described in more detail in Qorvo’s most
recent Annual Report on Form 10-K and in other reports and
statements filed with the Securities and Exchange Commission, could
cause actual results and developments to be materially different
from those expressed or implied by any of these forward-looking
statements.
At Qorvo®: |
Doug DeLieto |
VP, Investor Relations |
336-678-7968 |
|
Brent Dietz |
Director, Corporate
Communications |
336-678-7935 |
brent.dietz@qorvo.com |
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