SAN FRANCISCO, April 30 Qualcomm Inc is
spinning off its location awareness technology, which is
compatible with Apple Inc's iBeacon version, to a group
of investors including music, sports and arena conglomerate AEG.
The chipmaker said on Wednesday it sold the business as a
newly formed entity called Gimbal Inc. One investor is the
i-Hatch LBS Fund, which includes strategic investors Zebra
Technologies Corporation and AEG. Qualcomm will remain a
A Qualcomm spokesperson declined to disclose financial
The technology allows retailers and sports venues to track
the specific location of customers on their premises and send
context-aware messages, like special offers for products and
services, to their smartphones.
It is part of a growing trend in which smartphones and
tablets are used to offer customized recommendations to
consumers depending on where they are and what they are doing.
The advanced Bluetooth technology behind Gimbal, which can
be more accurate than GPS and works indoors, meets standards for
iBeacon technology used in Apple stores.
In March, San Diego, California-based Qualcomm said it had
been chosen to supply iBeacon-compatible equipment to be used in
20 Major League Baseball stadiums.
(Reporting by Noel Randewich; Editing by Richard Chang)