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Fabless semiconductor company Alereon announced today that it purchased intellectual property and requisite engineering teams from software firm Stonestreet One. The sum Alereon paid hasn’t been disclosed. The acquisition will diversify Alereon’s portfolio to include more software offerings in addition to chips.

The Austin, Tex.-based company specializes in ultra wideband (UWB) coverage, a technology that competes with Bluetooth to provide wireless connections between computers and mobile devices.

In the past, Alereon has raised $54.5 million from investors including Austin Ventures, Centennial Ventures and Duchossois Technology Partners.

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