Staccato acquires Artimi

Staccato Communications, an ultra-wideband (UWB) wireless technology provider and leader in wireless USB (WUSB), has completed a merger with Artimi, a leading developer of UWB and WUSB software and hardware solutions, states Market Watch.

Under the terms of the agreement, the combined entity will maintain the Staccato Communications name.

Staccato has also revealed it closed $20 million in a new round of equity financing. This capital allows Staccato to productise the integrated portfolio of best-in-class hardware and software solutions of the two companies.

The recession, and the growing popularity of smartphones from Apple, Research in Motion, Samsung, LG, and the emerging dark horse HTC, are likely to deal Nokia's US hopes a series of crippling body blows, says Red Herring.

The emergence of LTE, a mobile technology that will reset the technology-fragmented US mobile market in the favour of European handset makers such as Nokia, will be delayed because of the global credit crisis, analysts say.

The competitive field it will face when LTE finally emerges in the US market, which includes RIM, Apple, and possibly a rejuvenated Motorola, add to Nokia's woes.

Nordic venture capitalist firm, Nexit Ventures, is preparing for the second closing of its Infocom II fund at EUR75 million (£63 million), reports GrowthBusiness.

The fund, which invests in mobile and wireless technology companies in the Nordic countries and the US, is seeking further cash in advance of its final closing early next year.

New investors in this closing include mobile phone giant Nokia and Finnish insurance and finance group Tapiola.