STMicroelectronics acquires IoT tech developer Riot Micro, including its chip design operations in Egypt

M&A WATCH- TMicroelectronics acquires IoT tech developer Riot Micro, including its chip design operations in Egypt: French-Italian electronics manufacturer STMicroelectronics has acquired Canada-based Riot Micro which develops wireless chips that are meant to build smart objects in the internet of things (IoT), according to Globe Newswire.

The cool part: Riot Micro set up shop here in Egypt back in 2014. Cairo is where a bulk of its chip design and engineering operations happen. STM is also planning to establish a local presence as part of its acquisition of Riot Micro, with plans to expand its footprint here, we’re told.