Atmel Acquires Newport Media

San Jose-based chipmaker Atmel said this morning that it has acquired Newport Media, a developer of low power, Wi-Fi and Bluetooth semiconductors. Atmel said it would pay $140M in cash plus up to $30M in earnout for Newport Media. Newport Media had $43M in annual revenues in 2013, according to Atmel. Atmel will use the acquisition to bolster its products in the Internet-of-Things (IoT) market. Newport Media was based in Lake Forest, California.