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IATI - Israel Advanced Technology Industries
IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News Qualcomm Acquires Wilocity For $300 Million

Qualcomm Acquires Wilocity For $300 Million

Jul. 6, 2014

Caesarea-based high-speed wireless chipset developer Wilocity has raised $105 million to date. Qualcomm Corporation has acquired Israeli high-speed wireless chipset developer Wilocity for more than $300 million. Qualcomm has been seeking to acquire an Israeli company in this sector for a long time, and has previously invested in Wilocity, and has seats on its board of directors. “Globes” was the first to report that the deal would be done in May.

“At some point next year, we will start seeing the first WiGig chipsets in smartphones and other mobile devices, said Tal Tamir, former CEO of Wilocity and now VP of product management for Qualcomm’s Atheros division.

Tamir, COO Dany Rettig, VP communications architecture Gal Basson, and VP products and sales Jorge Myszne founded Wilocity in 2007. The company, based in Caesarea, is developing 60-Gigahertz multi-gigabit wireless chipsets based on the newly completed WiGig standard for the mobile computing, consumer electronics and peripheral markets. The technology is designed for short-range communications within the home or office, and can support data rates of 1.5 Gbps, potentially ten times faster than the previous local wireless network standard n11 (WiFi). This means that, in theory, a 2-gigabyte HD movie can be downloaded in seconds between computers.

Wilocity has raised $105 million to date from Benchmark Capital, Sequoia Capital, Vintage Investment Partners,Tallwood Venture Capital, and strategic investors, Atheros (now part of Qualcomm), Cisco Systems, Marvell Technology Group, and two Taiwanese companies – AzureWave Technologies and Pegatron Corporation.

For the full news item on Jewish Business News click here.

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