QCOM--Qualcomm Plans to Commit
$500 Million to Venture Arm
A WSJ.com News Roundup
SAN DIEGO -- Qualcomm Inc. said it formed a venture organization that will make strategic investments in start-up companies to support the adoption of the company's wireless technology.
Qualcomm, which sells code-division multiple access, or CDMA, digital wireless licenses and chip sets, said it is making a $500 million commitment that will be invested over four years.
Qualcomm said it plans to make investments in a variety of market segments. The companies it invests in, Qualcomm said, will benefit from access to its research-and-development expertise, engineering resources, business relationships and other portfolio companies.
Qualcomm Ventures will be managed by Jeff Jacobs, senior vice president of business development for Qualcomm. Currently, Mr. Jacobs is responsible for Qualcomm's investments, strategic partnerships and business deals.
Qualcomm Ventures will target strategic investments within several areas: communications devices and applications; wireless communications components and infrastructure; Internet infrastructure, content and services; and "enabling" technologies. Qualcomm's past and present strategic investments include AirFiber Inc., Front Porch Communications Inc., Graviton Inc., Handspring Inc., PayPal, Phone.com Inc. and RF Micro Devices Inc.
Earlier this month, Qualcomm, San Diego, said its chip-set business will delay an IPO until at least January. In July, Qualcomm announced it would split itself into two companies -- a chip-set business and a wireless intellectual-property player focusing on CDMA licenses and patents. |
