Qualcomm Set to Purchase Israeli Chip maker Wilocity for $300 M.

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Qualcomm Set to Purchase Israeli Chip maker Wilocity for $300 M.

It’s been recently announced that Qualcomm is set to acquire an Israeli chip maker Wilocity for a deal of $300 million according to sources quoting on Wilocity. Qualcomm has previously worked with Wilocity for many years to develop WiGig chipsets for devices. WiloCity’s WiGig, The brand name given to its more advanced 802.11ad standard by WiFi Alliance, offers data transfer speed that amounts to 7 GBs per second. Most devices use the 802.11 standard, which transfers data at a speed of between 1 and 1.3 Gbps. WiGig reuns on the less crowded 5 Ghz band, instead of the 2.4Ghz band that 802.11n devices utilize.

Reports.

A financial new site by the name of The Marker, has stated that Wilocity shall be purchased by Qualcomm sometime soon during this year for a total price of $300 million. But the two companies are yet to agree to terms of all provision of the sale. There are still no release statements about this recent news from any Wilocity officials.

Qualcomm has previously invested into Wilocity’s project for developing 60 GHz, 7 gigabit wireless chipsets that allow for much faster Internet speeds. This technology will allow user to download high definition videos and much larger data at faster speeds.

History.

Chip making business Wilocity was founded during 2007 by Tal Tamir as its CEO, along with Dany Rettig, Gal Basson and Jorge Myszne. Who all previously worked for Intel. Since Wilocity’s employees were told of the company’s acquisition by Qualcomm, representatives from the company have been conducting rounds of interview and it’s likely that if this recent new is really true, Wiliocity’s staff may be transferred to Qualcomm’s development center in Haifa.

Aside from Qualcomm, Wilocity was also gained the attention of semiconductor giant Marvell Technology, amount to $105 million from investors. more companies, such as Sequoia Capital, Benchmark Capital and Tallwood Venture Capital, have all invested into Wilocity previously.

Read Next:Cisco Has Decide To Invest Over $150 M Towards Startups Based On IoT.

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Kevin is passionate about startups and loves to write about them. Previously Kevin ran a design studio. Now he loves to write about tech and startups.

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