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Electronics Production | January 06, 2011

Qualcomm to acquire Atheros

Qualcomm has entered into a definitive agreement to purchase Atheros for USD 45 per share in cash, representing an enterprise value of USD 3.1 billion.

The transaction has been approved by the Qualcomm and Atheros boards of directors and is subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals and the approval of Atheros’ stockholders. The transaction is expected to close in the first half of 2011. "It is Qualcomm’s strategy to continually integrate additional technologies into mobile devices to make them the primary way that people communicate, compute and access content. This acquisition is a natural extension of that strategy into other types of devices. The combination of Qualcomm and Atheros is intended to accelerate this opportunity by utilizing best-in-class products for communications, computing and consumer electronics to broaden existing customer relationships and expand access to new partners and distribution channels", said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. Atheros’ current president and CEO, Dr. Craig H. Barratt, is expected to join Qualcomm as president of Qualcomm Networking & Connectivity. "Qualcomm and Atheros have a long history of collaboration and share a culture of technical innovation and execution excellence. The Atheros team will build upon Qualcomm’s strengths and leadership to bolster our customers’ ability to deliver innovative and differentiated products in the increasingly connected world."
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