Broadcom is mulling $100B bid to buy chip giant Qualcomm

Broadcom is mulling $100B bid to buy chip giant Qualcomm

Broadcom is mulling $100B bid to buy chip giant Qualcomm

In a move that would make Austin Powers' Dr. Broadcom shares rose nearly 5 percent, for a market cap of $111 billion. The unnamed sources also stressed that no final decision has been made, however, so there is still a chance for Broadcom to not proceed with a bid.

Broadcom exploring a deal to acquire Qualcomm Inc., according to people familiar with the matter, in what could be the biggest ever takeover of a chip maker.

If it happens, it would be the largest takeover of a chip firm.

Qualcomm, an early pioneer in mobile phone chips, supplies so-called modem chips to phone makers such as Apple, Samsung and LG that help the phones connect to wireless data networks.

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The legal war between Qualcomm and Apple has escalated yet again. Qualcomm's shares soared 12.71% on the rumor, or $6.97, to $61.81. In the lawsuit, filed on ... A complex series of countersuits has ensued, ensnaring both companies in a messy and likely to be protracted legal showdown over arcane patent licensing and component contract deals.

Broadcom's acquisition would be the most ambitious move by Tan, who has turned a small, scrappy chipmaker into a $100-billion company with a string of deals, since he took the helm a decade ago.

Qualcomm and Apple have been embroiled in a dispute over royalties that has landed the two corporations in court. The chipmaker countersued the Cupertino-based company in April, sought injunctions to halt iPhone sales in the USA and China, and filed a lawsuit over copyright infringement. A legal battle with Apple is costing revenue and jeopardizing a business model that for years made Qualcomm one of the most successful chipmakers. The company's modem chips have been used by Android manufacturers and by Apple since the very first iPhone. As such, the chipmaker could be heavily monitored by industry regulators.

We'll be paying close attention in the next few days for a potential announcement, so stay tuned for additional updates.

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