24 August 12 09:15–Chipmaker Qualcomm Inc. (Nasdaq: QCOM) has confirmed that it is acquiring Israeli start up DesignArt Networks. Qualcomm said that the Raanana based company’s system-on-chip platforms boost wireless data capacity in mobile networks. No financial details about the deal were revealed, but as “Globes” reported earlier this week when breaking the news of the imminent acquisition, Qualcomm is expected to be paying about $120-140 million including milestone payments for DesignArt Networks.
Qualcomm said that the Israeli company’s system-on-chip platforms boost wireless data capacity in mobile networks and described DesignArt Networks as a leader in small cell modem and system design for cellular base stations and high-speed wireless backhaul infrastructure. The US company added that, “DesignArt offers system-on-chip (SoC) and software products that enable the design of indoor and outdoor small cell base stations and remote radio heads, which allow operators to expand the data capacity of their networks in a simple and cost-effective manner. DesignArt’s technology also offers integrated line-of-sight and non-line-of-sight wireless backhaul to reduce the cost of outdoor small cell deployments.”
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…Read More>>