Qualcomm, Inc. (QCOM) reportedly in talks to acquire Wilocity for $300 million
Qualcomm, Inc. (NASDAQ:QCOM) is reportedly in talks to acquire Israel-based chip development company Wilocity for $300 million. Wilocity’s chips can increase the speed of downloading and uploading files on the Internet. Wilocity recently developed a 60GHz chip based on technology designed mainly for mobile computing, consumer electronics and peripherals. Devices can use these chips to communicate wirelessly at speeds ranging at between 1 to 5Gbps, which is around 10 times the speed of current WiFi devices, such as the N11.
The chip will be able to transfer a full-length move at 1080p (16GB) in seconds from one computer to another. Unfortunately, the information cannot be transmitted “between walls” and is limited to work in one space. The 60GHz chip is expected to reach smartphones sometime during 2014 and the framework of the chip was introduced at MWC in February.
Wilocity was founded several years ago by Tal Tamir, Daniel Rettig, Gal Basson and Jorge Myszne. Two years ago, Wilocity started to sell its chip sets to companies like Samsung. Wilocity has around 70 employees in Caesarea and locations throughout the United States, China, Taiwan, Japan and Korea. The employees are expected to move to Qualcomm’s office in Haifa.