Monday, December 04, 2006

Qualcomm buys two wireless technology businesses

Wireless technology firm Qualcomm Inc. (NASDAQ:QCOM - News) said on Monday it will buy two micro-chip businesses to boost its expertise in Bluetooth and Wi-Fi wireless technology for mobile Internet access.

"Qualcomm said it is buying the majority of RF Micro Devices Inc.'s (NASDAQ:RFMD - News) Bluetooth assets for $39 million and paying an undisclosed amount of cash to buy startup Airgo Networks Inc., which provides wireless local area network technology."

Palo Alto, California-based Airgo, which makes chipsets and software for wireless networking, was founded in January 2001 and had investment from venture firms including OVP Venture Partners, Oak Investment Partners and BlueRun Ventures, according to the company's Web site.
Oppenheimer's Harris said the Airgo deal could help bolster Qualcomm's expertise in Wi-Fi, a technology that is built into most laptops and an increasing number of cell phones.

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