Gimv and Draper sell GreenPeak to Qorvo

As part of the deal, GreenPeak CEO Cees Links will maintain his position in the business. According to a statement, Gimv claims the investment generated returns above its long-term average return and expects a net positive impact of €5.3m on the equity value of its portfolio at the end of 2015.

Previous funding
In May 2006, Gimv and Draper co-led a €6.1m series-A round in Dutch semiconductor producer Xanadu Wireless. The business merged in 2007 with Belgian company Ubiwave, following a €2m investment from its shareholders, and subsequently rebranded to GreenPeak Technologies.

In October 2009, Gimv and Robert Bosh Venture Capital co-led a €13m series-B round alongside existing investors Draper and Allegro investment.

Company
Founded in 2007, GreenPeak develops communication technology for wireless home applications. It produces semiconductors and software technology based on ultra-low-power wireless data communication for "smart home" and Internet of Things applications.

The company claims to have contributed to the creation and launch of wifi technology. The business stated it saw its revenues increasing from $1m in 2011 to $36m in 2015. Alongside its headquarters in Utrecht, the Netherlands, GreenPeak also has offices in Belgium, France, South Korea, Japan, China, India, Hong Kong and the US.

People
Draper Esprit – Simon Cook (managing partner); Richard Marsh (partner).
Qorvo – James Klein (chair).
GreenPeak – Cees Links (founder, CEO).

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