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News > Deals
IBM buys private chip firm
February 11, 1998: 10:46 a.m. ET

$180M deal to bolster IBM's drive into wireless communications chips
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NEW YORK (CNNfn) - IBM Corp. said it plans to acquire CommQuest Technologies Inc., a private company that makes chips for wireless communications, for about $180 million cash.
     The Encinitas, Calif.-based company represents the first acquisition for IBM's Microelectronics division. The computer giant said expenses associated with the transaction will result in a one-time charge when the deal is done.
     Through the purchase, IBM hopes to combine its silicon germanium chip technology with CommQuest's design and manufacturing capabilities to produce cheaper, more efficient chips.
     An IBM spokesman said he believes the deal will generate about $1 billion in new revenue for IBM by the year 2002.
     The purchase is contingent on meeting certain closing conditions and receiving governmental approval.Back to top

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