In a move to create new applications for mobile services and wireless
Internet systems, QUALCOMM Inc.
Wednesday bought wireless company SnapTrack Inc. for $1 billion in stock.
SnapTrack will become a wholly-owned subsidiary of
QUALCOMM (QCOM)
and will continue its work on position location technology. SnapTrack’s
staff will remain in California to support a development center for wireless
location products.
The combined technology will enable the design of smart phones, PDAs and
pagers that will help find wireless callers in emergency situations or
provide services directly to the user or via wireless Internet applications
and services. The location technology is air interface independent and
functions in any wireless standard. SnapTrack’s unique Location on Demand
feature will ensure a caller’s privacy — putting location information in
the hands of the user, not the network.
“There is tremendous synergy between SnapTrack and QUALCOMM,” said Steve
Poizner, president and chief executive officer of SnapTrack. “We are both
committed to developing leading-edge communications technology solutions for
the wireless industry. This agreement is a clear validation of Wireless
Assisted GPS technology and positions QUALCOMM at the center of the mobile
location, data and e-commerce applications markets.”
QUALCOMM Inc.develops digital wireless communications products and services
based on the company’s CDMA digital technology.
