Qualcomm to sink its cash into Europe

MOBILE CHIP specialist, Qualcomm, is planning to sink a hefty $100 million into European companies that can help it build the market for 3G/W-CDMA.

The company has been active in Korea, China and Japan but now its investment arm, Qualcomm Ventures, is turning its attention to the European cellular market.

To date, Qualcomm has acquired a few European companies such as Tellit UK, Trigenix and Elata. But now it is actively seeking to invest in small to medium sized companies as well as start-ups.

Qualcom is anxious to play key role in the growth of W-CDMA and sees this investment as a means of bringing it "a broader research and development base through our involvement with early-stage companies."

The INQ can see budding entrepreneurs in Europe's many 'radio valleys' sharpening up their business plans to attract the investment.

So if you spot Qualcomm executives wandering around Malmo, Helsinki, Sophia Antopolis or, um, Reading, then you now know why. µ

L'INQ
Grab the cash