Qualcomm Inc. said May 24 that it has wrapped up its $3.1 billion purchase of Atheros Communications Inc., a maker of Wi-Fi chips. The deal was first announced Jan. 5.
Qualcomm said in a May 24 statement that the acquisition enables it “to expand its presence in existing businesses and grow into a variety of adjacent businesses including home, enterprise and carrier networking.”
Atheros will operate as a wholly owned subsidiary of Qualcomm. Craig Barratt, Atheros’ former CEO and president, will be president of Qualcomm Atheros and report to Steve Mollenkopf, executive vice president and group president of Qualcomm.
Qualcomm trades on the Nasdaq as QCOM.
— Brad Graves