Qualcomm Acquires Mobile Technology Patents From H-P

By Dow Jones Business News, 
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By Tess Stynes

Qualcomm Inc. ( QCOM ) agreed to acquire a Palm, IPAQ and Bitfone patent portfolio from Hewlett-Packard Co. ( HPQ ), which covers mobile operating system technologies.

The portfolio comprises roughly 1,400 granted patents and pending patent applications from the U.S. and about 1,000 granted patents and pending patent applications from other countries.

Financial terms weren't disclosed.

H-P acquired struggling smartphone maker Palm in 2010, ending the independence of a onetime mobile device pioneer that was rapidly running out of prospects. Former H-P Chief Executive Leo Apotheker shuttered it in August 2011 after it failed to gain traction and was eclipsed by devices that ran on software from Apple Inc. ( AAPL ) and Google Inc. (GOOG). H-P recently moved back into the mobile market with the release of two large-format smartphones, initially available in India starting next month.

Qualcomm has been one of the main beneficiaries of the growing popularity of smartphones, as it supplies wireless processors for a broad range of customers that includes Apple and Samsung Electronics Co. (SSNHZ, 005930.SE), and collects money from license payments tied to its technology.

Write to Tess Stynes at tess.stynes@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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  01-23-141730ET
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This article appears in: News Headlines

Referenced Stocks: AAPL , BBRY , GOOGL , HPQ , QCOM

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