Qualcomm, a major US tech company, has acquired Israel’s Cellwize Wireless Technologies, a maker of cloud and artificial intelligence-based software that can help speed up the deployment of 5G networks.
Qualcomm announced the deal on Thursday without disclosing financial details. Estimates put the price tag at around $350 million.
The US corporation is a leading producer of semiconductors, software and other solutions for mobile devices and wireless technology.
The San Diego-based company has been pushing the development and rollout of 5G, the faster and more powerful fifth-generation cellular network technology.
Cellwize specializes in 5G mobile network automation and management. Its software, including its flagship CHIME platform, allows mobile operators to automatically launch 5G networks with very little manual intervention.
Its 5G network deployment, automation and management software capabilities will contribute to Qualcomm’s 5G infrastructure, Qualcomm said in a statement announcing the deal.
Cellwize has previously partnered with Intel on 5G technology. The company has raised $56.6 million since its founding in 2012, according to Start-Up Nation Central.
Qualcomm has invested in Israeli technology before, including by acquiring DesignArt Networks for $150 million in 2012, Wilocity in 2014 for around $300 million, and investing in AnyVision in 2018.
Qualcomm invested $32 million in Cellwize in 2020 and has research and development centers in Haifa and Hod Hasharon. It trades on the Nasdaq exchange under the ticker QCOM and has a market cap of around $145 billion.