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

To: marginmike who wrote (25157)	3/26/1999 9:07:00 AM
From: Ron M	Respond to of 152472

The news in the SD Union follows. Congrats to all the long time holders who have been around since the tassled loafered, silk suited days of the dog. This deal appears to have finally put the dot in Q.COM. Ericsson, Qualcomm agree to back single standard for wireless phones ASSOCIATED PRESS March 25, 1999 NEW YORK -- Sweden's Ericsson has agreed with U.S. rival Qualcomm Inc. to end a long-running legal dispute and support the standard Qualcomm has been backing for wireless phone technology. The agreement announced Thursday could smooth the path for introduction of the next generation of wireless communications that will deliver data and video as well as voices. Ericsson and Qualcomm also will gain access to each other's product lines under the agreement. On the news, Ericsson's shares climbed 8 percent and Qualcomm jumped nearly 10 percent. As part of the agreement, Ericsson will acquire Qualcomm operations that include call processing and research and development activities in San Diego and Boulder, Colo., for an undisclosed price. The operations being sold employ 1,000 to 2,000 of Qualcomm's 10,500 workers, spokeswoman Julie Cunningham said. The sale will allow Qualcomm to focus on its businesses of making wireless phones and the chips that make them work, she said. The agreement ends several years of legal disputes between the mobile phone makers over patents for wireless phone technology. Ericsson, which has been backing a rival technology, has agreed to support the technology that Qualcomm has been advocating called Code Division Multiplication Access, or CDMA. It is expected that CDMA will be the backbone for the next generation of wireless communications. In trading on the Nasdaq Stock Market, Qualcomm was up $8.62½ at $96 a share at midmorning and the U.S. stock of Ericsson was up $1.68¾ at $22.75.