Qualcomm announced that it
completed its acquisition of Atheros Communications. The Atheros team
will operate as Qualcomm Atheros, a wholly owned subsidiary of Qualcomm.
In addition, the Qualcomm connectivity
team will shift over to Qualcomm Atheros to combine resources and roadmaps.
This creates one of the industry’s most robust portfolios of
connectivity, networking and location solutions for mobile, computing,
enterprise and consumer electronic devices.
Together, the two companies
will be able to utilize their technology leadership positions, relationships
and assets to more effectively address promising new business opportunities.
The acquisition, which was
completed at an enterprise value of approximately $3.1 billion, enables
to expand its presence in existing businesses and grow into a variety of
adjacent businesses including home, enterprise and carrier networking.
Going forward, Qualcomm will continue to invest in, support and grow Qualcomm
Atheros’ robust portfolio of businesses and technologies.
Today marks another
milestone in Qualcomm’s mission to provide our customers with the best-in-class
connectivity and networking solutions needed to capitalize on expanding
business opportunities beyond handsets and tablets,” said Paul E. Jacobs,
chairman and CEO of Qualcomm.
We believe that the
complementary cultures, product portfolios, sales channels and leadership in
our respective fields will help make Qualcomm a leading force in the networking,
computing and consumer electronics industries for years to come,” Jacobs added.
Craig Barratt, formerly CEO
and president of Atheros, is now president of Qualcomm Atheros and reports
directly to Steve Mollenkopf, executive vice president and group president of
By TelecomLead.com Team