Wireless technology maker Qualcomm has agreed to acquire chip maker Atheros Communications for $3.1 billion in an attempt to capitalise on the smartphone and tablet boom, The New York Times reports.
Qualcomm, which is worth $84 billion, has grown in recent years by providing wireless technology chips for cellphone devices, but has been largely left out of the smartphone and tablet markets.
With device makers continuing to churn out smartphones and tablet devices equipped with wireless technologies, Qualcomm has chosen now to start producing its own specialised chips.
Qualcomm has agreed to pay $3.1 billion in cash, or $45 per share, to acquire Atheros, whose shares climbed to $44 when the news of acquisition broke.
Paul E. Jacobs, chief executive of Qualcomm, said in a statement to The New York Times that “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.”