QUALCOMM, Inc. (NASDAQ: QCOM) said Monday it has completed the acquisition of the remaining interest in RF360 Holdings Singapore Pte. Ltd., a joint venture with TDK Corporation.
TDK Electronics' remaining interest in the joint venture was valued at $1.15 billion in August, according to the announcement.
The total purchase price is approximately $3.1 billion, including the initial investment, payments to TDK based on sales by the joint venture and development obligations.
The joint venture has produced RF front-end filters that allow Qualcomm to deliver 4G or 5G RFFE. With this acquisition, Qualcomm Technologies said it is also able to provide customers with the Qualcomm Snapdragon 5G Modem-RF System, including 5G NR sub-6 and mmWave solutions, integrating power amplifiers, filters, multiplexers, antenna tuning, LNAs, switching and envelope tracking products.
"Our goal in the formation of this joint venture was to enhance Qualcomm Technologies' front-end solutions to enable us to deliver a truly complete solution to the mobile device ecosystem, and we have done exactly that," Qualcomm President Cristiano Amon said in a statement.
"We are excited about the strong adoption of Qualcomm Snapdragon 5G Modem-RF Systems in virtually all of our 150+ 5G design wins. Our systems approach has created a benchmark for 5G RFFE performance. I am very pleased to formally welcome to Qualcomm the talented employees of the joint venture.”
Qualcomm shares were down 0.64% at $77.91 at the time of publication Monday.
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