“Over its 12 year history, Fastrax has established itself as a successful player in the global positioning markets worldwide,” said Thomas Seiler, u-blox CEO. “Their modules exploit the best features of four leading GNSS chip vendors and include advanced antenna modules. These products are an excellent complement to our existing portfolio, and will benefit from u‑blox’ economy of scale in terms of our advanced R&D capabilities, semiconductor technologies, global sales channels, established supply chain and high-volume manufacturing resources.”
“This merger brings together two recognized, profitable GNSS technology leaders with broad market base; the sum of this acquisition is significantly larger than its parts.” added Fastrax CEO, Taneli Tuurnala.
This is the third acquisition of GPS technologies companies or assets for u-blox. The company had already acquired the intellectual property of Australia-based SigNav in October 2011(read here) and software GPS technology provider Geotate in March 2009 (read here). u-blox has also acquired two companies in the wireless industry: Fusion Wireless (read here) and Cognovo (read here).