Huawei has bought the UK IoT start-up Neul for USD 25 million, Business Weekly reports. The Cambridge-based company was seeking a major strategic investor, and according to the report, the alternative to not raising funds could even have been going into administration. The urgency of the situation seems to have accelerated the Huawei deal.
Neul has developed technology for wireless networks in so-called TV white spaces as well as its own Internet of Things networking platform. Previous investors include a number of private equity firms, employees and Japan's Mitsui.
Huawei earlier this year announced plans to invest GBP 10 million to support technology research programmes at leading UK universities. This is part of the company's previously announced USD 2 billion investment commitment to the UK and will be implemented by 2017.
