Qualcomm’s board of directors are confident enough to keep the company running on its own, and they have rejected the acquisition offer from Broadcom which was valued at 105 Billion Dollar. The news came out first as a rumor, and then an official confirmation. Looking at how it could benefit both the competitors, and also help Qualcomm to deal with Intel’s patent cases, but looks like Qualcomm is going to stay put.
This decision was unanimously opted to reject by Board of Directors. Paul Jacobs, executive chairman and chairman of the board of Qualcomm Incorporated said:
It is the Board’s unanimous belief that Broadcom’s proposal significantly undervalues Qualcomm relative to the Company’s leadership position in mobile technology and our future growth prospects.
Qualcomm is all set to unveil its effort for Windows 10 on ARM, and that can change how the devices look like today to a futuristic version, and as per Qualcomm CEO Steve Mollenkopf, the company is in a very strong position:
No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry. We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G
I am personally happy that this didn’t happen. Primarily because the competition is good for the industry, and we are almost on the verge to see a new category of devices in next 2 years. Qualcomm and Intel are going to play a very strong role in that, and nobody wants the innovation to be gone.