CEVA buys Wi-Fi/Bluetooth IP provider

CEVA is buying RivieraWaves, a developer of Wi-Fi/Bluetooth IP for integration within mobile processors. The company is paying $12M up-front; the total price could be $19M following milestone and retention payments.

CEVA, whose mobile DSP core IP business has slumped lately, says the purchase will expand its mobile licensing/royalty revenue base, and also expand its reach into wearable/embedded markets.

The company adds there are already "multiple joint customers deploying RivieraWaves' Wi-Fi IP on a CEVA DSP targeting mobile devices and the connected home."

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