Qualcomm to acquire DesignArt for $120-140m
The Raanana based company develops solutions for mobile 3G, 4G and high-speed wireless backhaul infrastructure.
DesignArt was founded in 2006 by CEO Oz Barak, CTO Assaf Touboul and Avishay Mor. Since then the company has raised $30 million from Carmel Ventures, Magma Venture Partners and Motorola Ventures. The company also received a loan from the Plenus Venture Lending Fund. Headquartered in Raanana, DesignArt focuses on data-centric mobile radio access network (RAN) with highly integrated system-on-chip (SoC) platforms and trial-ready embedded SW solutions for the mobile 3G, 4G and high-speed wireless backhaul infrastructure. This area is problematic because a major portion of content needs on mobile phones is based on video and multimedia.
Qualcomm has an R&D center in Haifa with 250 employees, managed by Eyal Bar-David, and this will not be Qualcomm's first acquisition in Israel. In 2010, Qualcomm acquired mobile web company iSkoot for $50-100 million.This latest acquisition will probably become part of the Qualcomm Atheros Division, based on the acquisition of Atheros for $3.1 billion in 2011. Atheros mainly supplies Qualcomm with non-cellular communications solutions such as local networks, and end-user computer and communications products. The acquisition of DesignArt will enable Qualcomm-Atheros to enter a new area, more based on infrastructures in which it is currently almost not active.
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