Qualcomm Spin-Off Gimbal Transitions to Stand-Alone CompanyWednesday, May 28, 2014
Gimbal Inc. became a freestanding San Diego technology company as of May 28.
Qualcomm Inc. spun off the company, which offers location technology including indoor location gear. With the help of Gimbal technology, retailers can send messages to a person’s cellphone depending on where that person is inside their store. The technology has also been used in sports stadiums.
Gimbal was created in Qualcomm Labs, and Qualcomm took its technology to market under its retail solutions business. While Qualcomm has retained a “substantial” stake in Gimbal, outside investors have taken a controlling interest. The new investors include individuals as well as the i-Hatch LBS Fund, which includes Zebra Technologies Corp. and AEG.
Rocco Fabiano is Gimbal’s CEO.
Qualcomm announced it was spinning off Gimbal on April 30.