By now, a lot of people agree that the next big thing in the world of technology will be in the realm of the internet of things. When every single device you own will be able to talk to one another and make smart decisions based on those interactions. That includes lights, TV’s, fridges, cars, doors, microwaves, basically - everything little thing that can, will be connected.
Sensinode was one of the companies that was aiming to make this a reality by developing a standards based technology because otherwise you would end-up with a lot of proprietary protocols which prevents scaling that the internet of things really needs.
Through this process, they have developed NanoStack and NanoService products that helped to connect all sorts of nodes in an internet of things network. It took over seven years to bring the technology to maturity and at this point the company became an attractive purchase.
Which has basically led to the purchase by the British ARM, a multinational semi-conductor company, whose processors and chips can be found in Apple, Samsung, Nokia (Microsoft) devices.
However the company has always been known for trying to be present in as many devices as possible and this goes in-line with the purchase as they are really getting ready for the internet of things. After all, this market is predicted to grow by nearly 30 billion devices, according to research conducted by IHS.
ARM is planning to offer Sensinode products to their existing and new clients, which gives a very large base for the startup. According to Adam Gould, the CEO of Sensinode,“The ARM architecture together with Sensinode’s software technology covering 6LoWPAN, CoAP, and OMA Lightweight M2M with advanced security will provide a compelling solution for Internet of Things developers.”
The company has been around for a while and received funding from Tekes as well as Series A in 2010 and Series B in 2011. One of the latest investments was done by Conor VC, so this was definitely a rather fast exit for them.
We have reached out to both Conor VC and Sensinode for further comments and perhaps a hint at the deal size and will update the story should we find out more.