Qualcomm Inc. on Tuesday, May 24, announced that it has completed its acquisition of Atheros Communications Inc. The Atheros team will operate as Qualcomm Atheros Inc., a wholly owned subsidiary of Qualcomm. In addition, the Qualcomm connectivity team will shift over to Qualcomm Atheros to combine resources and roadmaps.
Qualcomm says the acquisition creates one of the industry’s most robust portfolios of connectivity, networking and location solutions for mobile, computing, enterprise and consumer electronic devices, with the two companies together able to utilize their technology leadership positions, relationships and assets to address promising new business opportunities more effectively.
Qualcomm says the acquisition, which was completed at an enterprise value of about $3.1 billion, enables it to expand its presence in existing businesses and grow into a variety of adjacent businesses, including home, enterprise and carrier networking. Going forward, Qualcomm plans to continue to invest in, support and grow Qualcomm Atheros’ portfolio of businesses and technologies.
“Today marks another milestone in Qualcomm’s mission to provide our customers with the best-in-class connectivity and networking solutions needed to capitalize on expanding business opportunities beyond handsets and tablets,” says Dr. Paul Jacobs, chairman and chief executive officer of Qualcomm. “We believe that the complementary cultures, product portfolios, sales channels and leadership in our respective fields will help make Qualcomm a leading force in the networking, computing and consumer electronics industries for years to come.”
Dr. Craig Barratt, formerly CEO and president of Atheros, is now president of Qualcomm Atheros and reports directly to Steve Mollenkopf, executive vice president and group president of Qualcomm.