updated 01:15 pm EDT, Sun May 11, 2014
Deal to be finalized over $300 million purchase price, operations to move to Haifa
Chipset manufacturer Qualcomm has entered into talks with Israeli-based chip maker Wilocity over the finalization of a deal that would purchase the WiGig company for around $300 million. Wilocity had previously raised $105 million in venture capital funding with Qualcomm as one of its investors.
The Marker states that the deal was proposed to employees of Wilocity two weeks ago, but the terms of the deal have not yet been agreed upon. Employees are said to follow the company when the purchase is completed to Qualcomm's operations in Haifa. Wilocity currently offers its chips in some Dell devices, following the their release of the first chip to market in 2012.
Wilocity, which began in 2007 founded by former Intel employees, brought to market the first 60 GHz multi-gigabit wireless chipsets for electronics. The WiGig 802.11ad chips are capable of speeds up to 7GBps. Unlike Wi-Fi, Wilocity's chips require a direct line of sight between the transmitter and receiver. The advantage is that users on the network don't share bandwidth amongst one another.