Mistbase, the IoT Swedish startup, acquired by British ARM

Mistbase, a Lund, Sweden startup focusing on development of wireless communications solutions in the field of IoT, was acquired by ARM, a UK-based, multinational semiconductor and software design company, owned by SoftBank Group.

The terms of the deal remain undisclosed.

The transaction was announced in conjucture of a package deal, together with the acquisition of NextG-Com, a Britsih startup providing embedded wireless communication solutions, and is aimed to consolidate ARM's specialist engineering expertise in software and hardware IP that meets the new NB-IoT standard.

NB-IoT (NarrowBand-IoT) is a new low power wide area connectivity standard seen as the standard that will unlock long range IoT connectivity at scale as mobile network operators only have to upgrade their existing LTE systems to make it work. The standard will be cost-efficient to adopt, it will allow data to be sent over hundreds of miles at ultra-low-power, and it opens up the chance to tie in market-leading chip security technologies from ARM.

Mistbase, founded in 2015 by CEO Michal Stala and Magnus Midholt, provides a complete NB-IoT physical layer implementation solution, as it focused on developing hardware and software components for low-power wireless data transmission.

Mistbase has its roots at the LU Innovation, Lund University's innovation lab, and was backed by a SEK 4M ($500k) risk money round from investors such as Anders Berglund, Andy Ketskes or Quinary Investment.