Qorvo completed the acquisition of 7Hugs for $50m.

Qorvo, provider of RF solutions, completed the acquisition of 7Hugs, a software provider for ultra-wideband applications, from Xerys Gestion, a portfolio management company, and Karista Ventures, an early-stage venture capital firm, for $50m. “The 7Hugs Labs team is a great addition to our Mobile Products business, providing the software talent and expertise to leverage the unique precision location capabilities of UWB. 7Hugs Labs’ proven software and software stack complement our UWB chipset offering and will help enable a host of new ultra-wideband applications in mobile, IoT and automotive markets," Eric Creviston, Qorvo President.