Qualcomm To Acquire ‘DesignArt Networks’ For $120-140M

DesignArt Networks, an Israeli company that designs solutions for the mobile 3G, 4G and high-speed wireless backhaul infrastructure, will be sold to chipmaker Qualcomm. Israeli media report that the acquisition is estimated in $120-140 million. Qualcomm is expected to release a formal announcement in the next few days, after the two companies have been negotiating terms for several months. DesignArt Networks was founded in 2006 and is based in Ra’anana, Israel.