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Qualcomm Acquires Summit Microelectronics

SAN DIEGO — Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has acquired Summit Microelectronics (Summit), a leading developer and provider of programmable power integrated circuits based in Sunnyvale, CA. Qualcomm's power management roadmap will be significantly enhanced with the addition of Summit's expertise and products. As a result of the acquisition, Qualcomm will be able to offer a robust portfolio which will address a broader set of customers and complex design challenges. All employees of Summit Microelectronics have joined Qualcomm's CDMA Technologies division.

The demand for more sophisticated battery management is critical in a world of increasingly smart devices with advanced computing capabilities, large high-resolution screens, and advanced modem technologies (e.g. 4G LTE). Summit Microelectronics is a leader in providing flexible, highly integrated power management solutions combining precision power regulation with sophisticated digital control in a single chip. In particular, the Company's fast charging solutions are found in a variety of leading mobile phones, tablets, and e-readers.

Read the full press release.

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