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

To: engineer who wrote (27244)	4/16/1999 5:20:00 AM
From: jpbrody	Respond to of 152472

Here's the news we've been waiting for: Infrastructure went for $120 million. Ericsson paid under 1 bln SKR in Qualcomm deal STOCKHOLM, April 15 (Reuters) - Swedish telecommunications equipment maker Ericsson said on Thursday it paid less than one billion crowns to Qualcomm to buy part of its business and settle a legal dispute. ''The agreement between Ericsson and Qualcomm (Nasdaq:QCOM - news) means Ericsson pays less than one billion crowns ($120.8 million) net,'' Ericsson spokeswoman Pia Gideon told Reuters. Ericsson and Qualcomm of the United States last month settled a patent dispute, paving the way for a global wireless standard and boosting Ericsson's position in the U.S. market. Ericsson bought Qualcomm's terrestial CDMA wireless infrastructure operations as part of the deal. Gideon said the net amount included compensation for cross licensing of patents and compensation for Ericsson's acquisition of Qualcomm's infrastructure operations. CDMA, or Code Division Multiple Access, is a telephone standard developed by Qualcomm and mainly used in the United States. Ericsson shares were up one crown at 218.5 at 0820 GMT in a slightly positive market. Ericsson also spent almost $500 million in cash on Tuesday to acquire U.S. Internet technology companies Torrent Networking Technologies and TouchWave Inc and it said it was not ruling out larger acquisitions. ($1 equals 8.276 Swedish Crown)