Rigado, headquartered in South Salem, sold a division of its company to a Swiss company called u-blox. (Troy Brynelson/Salem Reporter)
Salem technology company Rigado is selling a piece of its business that helps connect devices to the internet.
The company, founded in 2010 and headquartered in south Salem, announced the sale to a Swiss company called u-blox Wednesday morning. Rigado didn’t disclose the financial terms of the sale.
In addition to acquiring the division, u-blox will also gain six of Rigado’s 40 employees, according to Chris Corrado, chief operating officer and co-founder. The workers won’t relocate, and instead head-up a new division for the Swiss company called its North American Short-Range Radio Engineering Center.
Rigado plans to use the money from the sale and reinvest it into other divisions, according to company spokesperson Kim Blomgren.
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Corrado described the sold segment as “adding Bluetooth into non-traditional, electronic products like Christmas lights or pet feeders or medical equipment, that allows a physical good to either talk to a smartphone or the cloud.”
The sale comes as internet connectivity becomes a baseline feature of many products hitting shelves, such as smart blenders, smartphone-controlled lightbulbs and wearable tech.
Rigado, founded in 2010, will keep its biggest business: selling products and software to commercial enterprises. Corrado said the company, among other things, helps companies track how they use space.
“Buildings is one of the largest expenses there is, so by using sensor data to tell if a room is occupied or not, we can help offices plan better, or help hospitals use patient space better,” said Corrado. “We’re also in smart hospitality, so you’ll find us in restaurant chains.”
Corrado called it “a great opportunity all around.”
“Hopefully both companies will continue to grow here in Salem,” he said.
Have a tip? Contact reporter Troy Brynelson at 503-575-9930, [email protected] or @TroyWB.
