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Qualcomm Acquires Summit Microelectronics - Qualcomm Incorporated (NASDAQ: QCOM) announced that it has acquired Summit Microelectronics (Summit), a leading developer and provider of programmable power integrated circuits based in Sunnyvale, CA - Qualcomm.com
Qualcomm Acquires Summit Microelectronics

 

NewswireToday - /newswire/ - San Diego, CA, United States, 2012/06/18 - Qualcomm Incorporated (NASDAQ: QCOM) announced that it has acquired Summit Microelectronics (Summit), a leading developer and provider of programmable power integrated circuits based in Sunnyvale, CA - Qualcomm.com. NASDAQ: QCOM

   
 
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Qualcomm’s power management roadmap will be significantly enhanced with the addition of Summit’s expertise and products. As a result of the acquisition, Qualcomm will be able to offer a robust portfolio which will address a broader set of customers and complex design challenges. All employees of Summit Microelectronics have joined Qualcomm’s CDMA Technologies division.

The demand for more sophisticated battery management is critical in a world of increasingly smart devices with advanced computing capabilities, large high-resolution screens, and advanced modem technologies (e.g. 4G LTE). Summit Microelectronics is a leader in providing flexible, highly integrated power management solutions combining precision power regulation with sophisticated digital control in a single chip. In particular, the Company’s fast charging solutions are found in a variety of leading mobile phones, tablets, and e-readers.

“Summit Microelectronics brings key expertise, technology, products, and design wins in battery charging and DC-DC converters,” said Steve Mollenkopf, president and COO of Qualcomm. “This acquisition enhances the competitiveness of Qualcomm’s chipset solutions and enables us to provide our customers with industry leading power management and charging performance.”

About Qualcomm
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in 3G and next-generation mobile technologies. For more than 25 years, Qualcomm ideas and inventions (qualcomm.com) have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm’s website, OnQ blog, Twitter and Facebook pages.

Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Qualcomm could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; any statements of the plans, strategies and objectives of management for future operations, including the execution of technology integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that Qualcomm is unable to successfully implement technology integration strategies; and other risks detailed from time to time in the Company’s SEC reports, including the report on Form 10-K for the year ended September 25, 2011, and most recent Form 10-Q.

Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.

Qualcomm Contact
Warren Kneeshaw, Investor Relations
P: 1-858-658-4813 - E: ir[.]qualcomm.com.

 
 
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Written by / Agency / Source: QUALCOMM, Inc.

 
 

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Qualcomm Acquires Summit Microelectronics

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Qualcomm Incorporated |
Publisher Contact: Tina Asmar - Qualcomm.com 
+1 858-845-5959 corpcomm[.]qualcomm.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any QUALCOMM, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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