Lime Microsystems, a UK-based producer of field programmable RF transceivers, has appointed technology M&A advisory firm Acuity Advisors to explore strategic options including a sale, Marcus Allchurch, partner at Acuity, said.

The Guildford, Surrey-based company has raised around USD 23m in investment since it was established in 2005, Allchurch said. The company's investors hold around 78% of the company, with the rest in founders' hands, Allchurch added.

Shareholders include In-Q-Tel, the Arlington, California-based not-for-profit venture capital affiliated with US intelligence agencies. Other investors include London-listed technology investor Draper Esprit [LON:GROW] and UK-based early stage tech investor Parkwalk.

Allchurch declined to disclose the company's turnover. The company has 34 employees, 28 of which are in technical roles, he said.

Lime Microsystems has developed multi-band, multi-standard transceiver chips which can be programmed over the air. The technology is well-positioned for the introduction of 5G standards for mobile telephony and for internet-of-things (IoT), Allchurch said.

Lime Microsystems could be of interest to any company in the wireless ecosystem, including telecoms hardware providers, IoT companies, satellite communications firms, and in the aerospace and defence sector, Allchurch said.

by Yining Su in London

Intelligence ID:  2455043