Swedish GPS start-up Nordnav sold for $75m
- World leader in Bluetooth technology, CSR, strengthens its product portfolio through acquisition3i Group plc, InnovationsKapital and smac partners together with Nordnav’s management, have agreed to sell Nordnav, a Swedish pioneer in next generation GNSS receivers, to Cambridge Silicon Radio (LSE: CSR.L). The purchase price for all shares in the company is approximately $75 million. InnovationsKapital and 3i co-led the first investment round in Nordnav in May 2005.Kimmo Korpela, Director, 3i Nordic, comments on the sale:”This transaction has very clear logic in the industry and is a very