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Sunday, August 19, 2018
Memory Industry News
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ARM denies involvement on potential Qualcomm bid


Tuesday, April 17, 2018

Looks like Arm doesn't plan to buy part of Qualcomm after all.

CNBC reported on Thursday that Qualcomm's former CEO, Paul Jacobs, had been talking to strategic investors to help raise money to take the mobile chipmaker private. One investor name listed was Arm, the UK company that designs the architecture that's the basis of most mobile chips. Its customers, along with Qualcomm, include Apple and Samsung.

Arm said in a statement provided to CNET that CNBC's report was inaccurate.

"There have been no discussions between Arm and Paul Jacobs on any potential acquisition of Qualcomm," Arm said.

Jacobs, through a spokesperson, declined to comment.

Jacobs left his role as Qualcomm's chairman last month after Broadcom's hostile takeover attempt failed. Qualcomm announced that Jacobs was looking at buying out the company his father, Irwin Jacobs, co-founded. At the time, such an offer seemed to have little chance of success as Jacobs owned less than 1 percent of the company, which is valued at about $90 billion. Launching an offer for Qualcomm would require backers with deep pockets.

CNBC on Thursday reported that Jacobs has been talking to sovereign wealth funds and strategic investors to help take Qualcomm private in the next two months. Jacobs then would run the company, the publication said.

Jacobs, through a spokesperson, declined to comment.

Jacobs left his role as Qualcomm's chairman last month after Broadcom's hostile takeover attempt failed. Qualcomm announced that Jacobs was looking at buying out the company his father, Irwin Jacobs, co-founded. At the time, such an offer seemed to have little chance of success as Jacobs owned less than 1 percent of the company, which is valued at about $90 billion. Launching an offer for Qualcomm would require backers with deep pockets.

CNBC on Thursday reported that Jacobs has been talking to sovereign wealth funds and strategic investors to help take Qualcomm private in the next two months. Jacobs then would run the company, the publication said.

By: DocMemory
Copyright 2018 CST, Inc. All Rights Reserved

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