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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (77790)	7/25/2000 7:55:51 PM
From: Sully-	Read Replies (1) \| Respond to of 152472

Qualcomm to spin off semiconductor business By Total Telecom staff 25 July 2000 Qualcomm intends to spin off its semiconductor business and create a new $1-billion company, temporarily dubbed "Spinco," it announced Tuesday. The move follows the announcement by Lucent last week that it was to spin off its microelectronics business to create a $4-billion company. Dr. Irwin Mark Jacobs, chairman of both companies and chief executive of Qualcomm, said the move "will enable both Qualcomm and the new Spinco to evolve independently" and imbue Spinco - with a workforce of over 1,000 engineers - with greater freedom to access third-party technology. Strategic partnerships with RFMD and Ericsson have already been announced. Richard Sulpizio, new chief executive of Spinco, promised "more announcements in the near future," and claimed Spinco "will become the world's largest semiconductor company." totaltele.com