Qualcomm buys Summit Microelectronics

Qualcomm announced on Monday that it will buy technology firm Summit Microelectronics.

Qualcomm announced on Monday that it will buy technology firm Summit Microelectronics.

Terms of the deal have not bee disclosed.

Summit Microelectronics, based in Sunnyvale, California, specialises in power management chips that are in smartphones and tablets.

Telecommunications giant Qualcomm develops 3G and next-generation mobile technologies. The San Diego, California-based company said that its power management roadmap will be "significantly enhanced" by both Summit's expertise and products.

All Summit employees have joined Qualcomm's CDMA division.

"This acquisition enhances the competitiveness of Qualcomm's chipset solutions, and enables us to provide our customers with industry leading power management and charging performance," said Steve Mollenkopf, Qualcomm's president and chief operating officer.

Qualcomm closed 0.5 per cent down, at market close on Friday, but appears to have reclaimed most of its losses during Monday pre-market trading.

Via ZDNet US

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