Mistbase was founded in 2015. Its technology enables connected devices to communicate using scaled-down and less expensive hardware, which require small amounts of data traffic for their communications. Intel, Mediatek, and Qualcomm are among the competitors that are developing similar technology.
This is ARM's second acquisition in the region - in 2008 ARM bought the Swedish video technology company Logipard. Since then, the ARM has built up a strong presence in the region and has about 100 employees in Lund.
ARM was purchased last fall by the Japanese Softbank Group for £23 billion.
Read more: Di Digital (Swedish)