Qualcomm Buys Summit Microelectronics - Quick Facts

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6/18/2012 7:37 AM ET

Qualcomm Inc. (QCOM: Quote) said it has acquired Sunnyvale-based Summit Microelectronics, a developer and provider of programmable power integrated circuits. With the addition of Summit's expertise and products, Qualcomm's power management roadmap would be significantly enhanced. As a result of the purchase, Qualcomm would be able to offer a robust portfolio which would address a broader set of customers and complex design challenges.

Summit Microelectronics' employees have joined Qualcomm's CDMA Technologies unit.

Steve Mollenkopf, president and COO of Qualcomm noted, "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."

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