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Sept. 16, 2019, 8:02 a.m. EDT

Qualcomm buys rest of JV RF360 from TDK, for total purchase price of $3.1 billion

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By Tomi Kilgore

Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM -3.65% said Monday that it was buying the remaining interest in RF360 Holdings Singapore Pte. Ltd., which makes RF frong-end filters. RF360 is a joint venture with Tokyo-based TDK Corp. /zigman2/quotes/201622098/delayed TTDKY 0.00% /zigman2/quotes/208948266/delayed JP:6762 +0.26% , with TDK's remaining interest valued at $1.15 billion in August. Qualcomm's stock slipped 0.9% in premarket trading. Qualcomm said the total purchase price, including the initial investment, payments to TDK and development obligations will be about $3.1 billion. Qualcomm said the acquisition strengthens its RF business and helps support the transition to 5G. "Our goal in the formation of this joint venture was to enhance Qualcomm Technologies' front-end solutions to enable us to deliver a truly complete solution to the mobile device ecosystem, and we have done exactly that," said Qualcomm President Cristiano Amon. Qualcomm's stock has soared 37.8% year to date through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% has gained 20.0%.

/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 110.69
-4.19 -3.65%
Volume: 15.44M
Sept. 18, 2020 4:00p
P/E Ratio
46.82
Dividend Yield
2.35%
Market Cap
$124.89 billion
Rev. per Employee
$607,486
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/zigman2/quotes/201622098/delayed
US : U.S.: OTC
$ 110.10
0.00 0.00%
Volume: 4,197
Sept. 18, 2020 3:47p
P/E Ratio
27.10
Dividend Yield
1.25%
Market Cap
$13.94 billion
Rev. per Employee
$121,375
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/zigman2/quotes/208948266/delayed
JP : Japan: Tokyo
¥ 11,510.00
+30.00 +0.26%
Volume: 688,000
Sept. 18, 2020 3:00p
P/E Ratio
26.32
Dividend Yield
1.39%
Market Cap
¥1453.97 billion
Rev. per Employee
¥13.41M
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/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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