Huawei has announced today that is has bought UK-based Internet of Things specialist Neul for a cool $25 million (£15 million).
Neul is known for developing a connectivity platform called "Weightless" that provides the air interface for ultra-low power connections for objects such as smart meters and city lighting.
The company says its technology is "capable of leveraging very small slices of spectrum to deliver high scalability, high coverage, low power and low cost wireless networks for the internet of things.
"Low spectral leaking and good adjacent channel blocking performance are mandated," it continues, "meaning that a Weightless system can be a good neighbour to other spectrum technology incumbents."
Huawei has been investing heavily in IoT projects in the UK recently, having set up a £125 million chip and R&D lab in Bristol and promising the government that it will invest £1.3 billion in the UK in unspecified locations.
This deal is of course a massive coup for Neul, as it will be able to make use of the Chinese company's considerable resources in its attempt to become an established player in the future of IoT, which will become a more crowded marketplace.
Huawei has also got itself a potentially important technology for a relatively cheap price, pointing to a good piece of business for both parties.