Bay Area chip manufacturer Atheros Communications has been purchased by telecommunications giant, Qualcomm, reports the International Business Times, Wednesday.
Speculations of the impending merger were swirling late Tuesday, sending Atheros stock spiking at $44 per share, doubling their lows in September.
Qualcomm's CEO Paul E. Jacobs explains, "It is Qualcomm’s strategy to continually integrate additional technologies into mobile devices to make them the primary way that people communicate, compute and access content," adding, "This acquisition is a natural extension of that strategy.”
