US semiconductor giant Qualcomm (Nasdaq: QCOM) is set to acquire Israeli startup Cellwize, which is active in advanced cellular network optimization. The acquisition price is estimated to be in the low hundreds of millions of dollars - a decent return on an investment of $57 million by a broad range of investors, among them Qualcomm itself through its investment fund, Intel Capital, Deutsche Telekom, Viola Ventures, and Vintage Investment Partners.
Cellwize was founded in 2013 by Sasi Geva and Daniel Dribinski, who have since left the company. The company is currently managed by Ofir Zemer, who co-founded digital customer engagement technology company Pontis, which was sold to Amdocs. Cellwize's customers include some of the world's largest telecommunications carriers, such as Verizon and Deutsche Telekom. Cellwize's platform facilitates, among other things, shortening the time required to integrate a new cellular site into an existing network.
Qualcomm has not made any acquisitions in Israel for a long time. Among its past acquisitions in the country are the Israeli operations of optical chips company CSR, and telecommunications and WiFi chip company Wilocity.
No comment was received on the report from the companies concerned.
Published by Globes, Israel business news - en.globes.co.il - on May 10, 2022.
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