JERUSALEM (Reuters) - Qualcomm Inc is in advanced talks to buy Israeli chipmaker Wilocity, financial news website TheMarker reported on Sunday.
Qualcomm has proposed to acquire Wilocity, which makes fast speed chips, for around $300 million but the two sides have yet to agree to terms of all the provisions of the sale, TheMarker said.
Officials at Wilocity, founded in 2007, were not immediately available for comment.
U.S. chipmaker Qualcomm is already an investor in Wilocity, which develops 60 GHz, 7 gigabit wireless chipsets that allow for faster Internet speeds.
The chips would enable users to download video and other heavy data content more quickly, TheMarker noted, adding that Wilocity’s chips are featured in Dell computers - its first customer.
Other investors in Wilocity include Marvell Technology, Cisco, Pegatron, Benchmark Capital, Sequoia, Vintage Investment Partners, and Tallwood Partners. TheMarker said that in all, Wilocity has raised $105 million from its investors.
Reporting by Steven Scheer