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.
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.