Nordic Semiconductor has entered into an agreement to acquire the IP portfolio
of Atlazo in San Diego for an undisclosed sum and signed employment agreements
with the core team of eight people. Atlazo is a technology leader in artificial
intelligence and machine learning (AI/ML) processors, sensor interface design
and energy management for tiny edge devices. The acquisition will further
strengthen Nordic's leading position in the development of low-power products
and solutions for IoT and accelerate ongoing strategically important development
initiatives. 
   
Nordic is acquiring cutting edge AI/ML technology, advanced sensor front end
technology for health-related applications, and on-device technology allowing
any computing processor to operate at the lowest possible energy point for a
given task. 

The rise of IoT has emphasized the importance of edge devices, leading to an
increased demand for more computing power, advanced services, and intelligence
at the network edge. To meet these demands, Nordic will leverage Atlazo's
hyper-low-power AI/ML processor technology in future SoCs. This will enhance
Nordic's market offering across many of the market verticals it operates in and
across its technology offering. 

Moreover, with the integration of Atlazo sensor technologies for health
applications, Nordic can better serve the expanding smart health markets,
including optical heart monitoring, continuous glucose monitoring, and other
wearable technologies.

"This brings a new level of always-on AI/ML capabilities and technologies that
will strengthen our core business and continue to expand our market opportunity
in line with our growth strategy," says EVP Strategy and Product Management
Kjetil Holstad at Nordic Semiconductor.

"While this is a small bolt-on acquisition for Nordic, we consider it to be
strategically significant. Adding this group of highly experienced engineers and
their intellectual property is an excellent fit with Nordic's ongoing product
development. We are confident that this integration will accelerate our progress
towards ultra low-power AI/ML, and anticipate that we will begin to see the
initial benefits of this acquisition within 12-18 months of closing the
transaction." says Svenn-Tore Larsen, CEO at Nordic Semiconductor.

The acquisition covers all IP and certain other assets of Atlazo, and the
location in San Diego will become Nordic's third R&D site in the US. Nordic
earlier this year completed the acquisition of Mobile Semiconductor in Seattle,
and also has an office located in Portland, Oregon.

The transaction is dependent on regulatory approval, and completion of the
transaction is expected by the end of 2023. 

For additional information, please contact:

Pål Elstad, CFO Nordic Semiconductor ASA, +47 991 66 293

Steel Ytterdal, Director of IR Nordic Semiconductor ASA +47 930 37 430


About Nordic Semiconductor: 
Nordic Semiconductor is a Norwegian fabless semiconductor company specializing
in wireless communication technology that powers the Internet of Things (IoT).
Nordic was established in 1983 and has more than 1500 employees across the
globe. Our award-winning Bluetooth Low Energy solutions pioneered ultra-low
power wireless, making us the global market leader. Our technology range was
later supplemented by ANT+, Thread and Zigbee, and in 2018 we launched our low
power, compact LTE-M/NB-IoT cellular IoT solutions to extend the penetration of
the IoT. The Nordic portfolio was further complemented by Wi-Fi technology in
2021.  

About Atlazo: 
Atlazo is a leader in always-on AI processor, sensor interface design and energy
management for tiny edge devices. Founded in 2016, the company is dedicated to
addressing the global demand for smarter and more power efficient tiny devices
targeting the rapidly growing market for smart true wireless stereo (TWS)
earbuds, hearing aids, wearables and health-monitoring devices. Atlazo brings
cutting edge innovations in hyper-low power semiconductor design, on-device AI
processor, and accurate sensing.