Silicon Labs and Sigma Designs Inc. announced the completion of Silicon Labs’ acquisition of Sigma Designs’ Z-Wave business, including a team of approximately 100 employees, for $240 million in an all-cash transaction.

Combining Z-Wave’s mesh technology and product interoperability focus with Silicon Labs’ multiprotocol expertise gives smart home developers access to a large, varied network of ecosystems and to a full range of end-node technology options that open the door to millions of potential smart home users, the company stated in a press release. The strategic acquisition complements Silicon Labs’ comprehensive wireless hardware and software portfolio for the smart home, which today includes Wi-Fi, Zigbee, Thread, Bluetooth and proprietary protocols.