imgres-9Silicon Labs announced Wednesday its acquisition of Bluegiga Technologies Oy, based in Finland, for $61 million in cash.

The Austin-based company reported the acquisition expands its wireless hardware and software solutions for the Internet of Things marketplace.

Bluegiga makes wireless products such as ultra-low power Bluetooth Smart, Bluetooth Classic and Wi-Fi modules as well as software products.

“With Silicon Labs’ wireless, microcontroller and sensor portfolios gaining considerable traction in the IoT markets, the timing of this acquisition couldn’t be better,” Tyson Tuttle, CEO of Silicon Labs said in a news release.

Silicon Labs plans to continue operations in Finland.