California-based Qualcomm will acquire fellow chip maker, Atheros Communications, The Wall Street Journal reports. The chip maker, which will pay around $3.1 billion in cash for the acquisition, seeks to the fund the deal with offshore cash.
Upon completion of the deal, Atheros will be renamed Qualcomm Networking & Connectivity and Atheros president and CEO Craig Barratt will join the company as president of the group. The transaction is expected to be completed in the first half of 2011.
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