Globes: Qualcomm to acquire DesignArt for $120-140m
22 August 12 15:39–Chipmaker Qualcomm Inc. (Nasdaq: QCOM) will announce in the next few days that it is acquiring Israeli start up DesignArt Networks, which develops components for wireless communications infrastructures. The announcement will come after protracted negotiations. The official announcement will probably not include the amount of the acquisition, which is not significant for Qualcomm, but it is believed to be about $120-140 million including milestone payments that DesignArt will be required to meet. Quallcomm, the world’s largest supplier of chips for 3G mobile technologies, has a market cap of about $105 billion.
DesignArt was founded in 2006 by CEO Oz Barak, CTO Assaf Touboul and Avishay Mor. Since then the company has raised $30 million from Carmel Ventures, Magma Venture Partners and Motorola Ventures. The company also received a loan from the Plenus Venture Lending Fund. Headquartered in Raanana, DesignArt focuses on data-centric mobile radio access network (RAN) with highly integrated system-on-chip (SoC) platforms and trial-ready embedded SW solutions for the mobile 3G, 4G and high-speed wireless backhaul infrastructure. This area is problematic because a major portion of content needs on mobile phones is based on video and multimedia…Read More>>
