Qualcomm buys power management chip maker Summit Microelectronics

Qualcomm said it will buy power management chip maker Summit Microelectronics in a bid to bolster its "sophisticated digital control in a single chip."

Qualcomm announced on Monday it will buy technology firm Summit Microelectronics. Terms of the deal were not disclosed.

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

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

All Summit employees have joined Qualcomm's CDMA division.

Steve Mollenkopf, Qualcomm's president and chief operating officer said: "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."

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