Acquisition helps Qualcomm expand its semiconductor business into adjacent markets
Qualcomm has announced it is to acquire Atheros, a specialist in technologies for wireless and wired local area connectivity in the computing, networking and consumer electronics industries. The acquisition, worth $3.1billion. has been made to accelerate Qualcomm's expansion of technologies and platforms to new businesses beyond cellular.
The transaction has been approved by both company's boards of directors and is expected to close in the first half of 2011. Atheros' current president and ceo, Dr Craig Barratt, is expected to join Qualcomm as president of Qualcomm Networking & Connectivity.
Qualcomm's, EVP and group president, Steve Mollenkopf, said: "We see this strategy as central to helping our customers capitalise on the ubiquitous connectivity and seamless experiences that are developing across mobile phones, computing and consumer electronics."
