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Tech giants gulp down Stockholm startups

Two Stockholm based tech-firms have recently separately been acquired by multinational companies. The deals once again confirm the Swedish capital's status as a hotbed for high-tech startups with an international mindset.  

Nanoradio, a company that develops energy-efficient chipsets for Wi-Fi, was bought by South Korean Samsung Electronics in May for an undisclosed sum.

Nanoradio's chipsets can be used in smartphones, tablets, mobile gaming terminals, portable multimedia players, digital cameras and e-readers.

Samsung hasn't unveiled its plans for Nonoradio yet, but international media sources pointed out that Samsung has products in all of the categories that the Swedish company operates.

Founded in 2004, Nanoradio currently has about 60 employees, with sales offices in Korea, China, Japan and USA. It was one of the country's fastest growing technology companies last year and is headquartered in the Stockholm suburb of Kista, which is known for its progressive clusters of ICT companies.

Just days before the Nonoradio deal, the American maker of casino gambling machines, WMS Industries, announced it had acquired the Stockholm based developer of online gambling games, Jadestone Group AB.

"Jadestone's online expertise accelerates our efforts to develop a comprehensive suite of interactive products, managed services and content distribution capabilities," said WMS' President, Orrin J. Edidin.

Jadestone has established itself as a leading B2B platform integrator and online game publisher, serving customers primarily in Europe.


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This article was published in collaboration with Stockholm Business Region.

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Last Updated (Monday, 30 July 2012 09:34)

 

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