Qualcomm to Acquire the Assets of Semiconductor Design Innovator Rapid Bridge
– June 10, 2011 – Qualcomm Incorporated (NASDAQ: QCOM) today announced it has agreed to acquire substantially all of the assets of Rapid Bridge LLC, a San Diego-based inventor of advanced techniques for the design and development of semiconductor products. The company’s technology reduces complexity in integrated circuit (IC) development at advanced technology nodes to enable greater design flexibility and optimized die size and power consumption.
Rapid Bridge’s San Diego design team and San Diego/Bangalore engineering services operations will be integrated into Qualcomm CDMA Technologies. The asset acquisition, which is subject to regulatory approval and fulfillment of certain terms and conditions, is expected to close by the end of fiscal year 2011.
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in 3G and next-generation mobile technologies. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of wireless communications, connecting people more closely to information, entertainment and each other. Today, Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere. For more information, visit Qualcomm around the Web:
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Qualcomm could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; any statements of the plans, strategies and objectives of management for future operations, including the execution of technology integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that Qualcomm is unable to successfully implement technology integration strategies; and other risks detailed from time to time in the Company’s SEC reports, including the report on Form 10-K for the year ended September 26, 2010, and most recent Form 10-Q.