Yesterday the company said it would invest 100m euros, or about $134m, in European companies that make products for 3G wireless communication networks and services, which Qualcomm develops silicon for.
San Diego, California-based Qualcomm said it would invest in small to medium-sized enterprises and startups that serve the 3G (WCDMA) market in Europe for mobile application/platform software developers, handset components, network infrastructure and core technologies providers.
In addition to cash, Qualcomm said it would give its benefactors strategic guidance, advice in protecting their innovations, support in standardizing their technology, and help getting faster access to global markets.
Qualcomm CFO Bill Keitel said the company had made several successful acquisitions in Europe in the recent past, including Tellit UK, Trigenix and Elata.
The first company to get a slice of Qualcomm’s European pie is Streamezzo, a Paris-based developer of rich-media software and services for cell phones. Qualcomm did not disclose how much it invested in the company.
