Qualcomm Buys Wireless Electric Vehicle Charging Firm’s AssetsWednesday, November 9, 2011
Qualcomm Inc., the world’s biggest maker of chips for cellphones, said Nov. 8 that it acquired the technology assets of HaloIPT, a provider of wireless charging technology for electric cars.
Qualcomm, which reported an annual net profit of $4.2 billion on $14.96 billion in revenue for its 2011 fiscal year that ended Sept. 25, said it has been investing in wireless power for several years and that the HaloIPT transaction will strengthen its patent portfolio. Terms of the deal were not disclosed.
The acquired business was the outgrowth of some 20 years of development at the University of Auckland in New Zealand. In a relatively short time, the company established itself as a leading developer in wireless electric road vehicle charging, according to a press statement.
All members of HaloIPT’s team have joined Qualcomm’s European Innovation development group based in the United Kingdom, according to the release.
In addition to the deal, Qualcomm and Auckland UniServices, the commercialization company of the University of Auckland, committed to a long-term research and development agreement to promote continued innovation in the field of wireless charging electric vehicles through inductive power transfer, Qualcomm said.
— Mike Allen