Qualcomm Inc. (QCOM) 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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.