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Qualcomm Buys Atheros For $3.1B
California-based Qualcomm will acquire fellow chip maker, Atheros Communications
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.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.