Semiconductor firm ARM buys Simulity Labs for €13 million

Dubliner Stephen Halpenny co-founded the internet of things company with Stephane Fund in 2009

9th July, 2017
Stephane Fund

Simulity Labs, an internet of things company co-founded by Dubliner Stephen Halpenny, has been sold to semiconductor firm ARM for £11.7 million (€13.3 million.)

Halpenny co-founded Simulity with Stephane Fund in 2009 and the business has offices in Northern Ireland, Wales, South Africa and India.

In October 2016, the business was bought by the Foresight Group for £4 million and the sale has returned to the fund a 400 per cent internal rate of return.

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