Chinese Bike Service Selects Semtech Technology

Ofo, a Chinese bicycle sharing company, will equip its bikes with technology manufactured by Semtech Corp., the company has announced. The Camarillo semiconductor manufacturer said Ofo’s bikes are outfitted with trackers that transmit data to an online application allowing Ofo and its users to pinpoint the location of the bicycles. The Semtech equipment will allow network connectivity even in remote areas and dense buildings. Ofo operates in more than 180 cities, providing about 10 million bicycles and 25 million rides daily. “Semtech’s LoRa technology is one of the best choices and Ofo is willing to work with global partners to promote a green riding culture,” Xue Ding, co-founder at Ofo, said in a statement. Shares of Semtech (SMTC) closed Friday unchanged at $38.35 on the Nasdaq.