Atmel acquires Zigbee IP from LuxLabs

What is Zigbee?
A wireless network used for home, building and industrial control with a maximum speed of 250Kbps at 2.4GHz; Designed for low power so that batteries can last for months and years; Typical transmission range is around 50m.

What does IP stand for?
(1) Internet Protocol is a basic communication language or protocol widely used in the Internet or a private network. It is a data-oriented protocol used for communicating data across a packet-switched internetwork. (2) Intellectual Property. A product of the intellect that has commercial value, including copyrighted property (literary or artistic works) and ideational property (patents, appellations of origin, business methods and industrial processes).