November 19, 2007 – Spreadtrum Communications Inc., a Chinese wireless baseband chipset provider, has agreed to acquire San Diego-based Quorum Systems Inc., a fabless developer of CMOS radio frequency (RF) transceivers, for $55M in cash and $15M in stock, plus an extra $6M in performance incentives over the next two years.
“We have been working with the Quorum team for the past two years, and this merger is the next logical step in this partnership,” said Spreadtrum president/CEO Ping Wu, in a statement. “Quorum’s design team brings an average of 10 years of CMOS RF semiconductor experience to Spreadtrum, further increasing our R&D capabilities. We believe Quorum’s RF technology, combined with our strengths in complete baseband and software solutions, will allow us to strengthen our unique position in the competitive mobile wireless communications market, from 2G to 3G, from RF to baseband, from physical layer software to protocol and applications.”
“Our industry leading CMOS RF transceivers are an excellent complement to Spreadtrum’s unique baseband solutions, with strong synergies, and together, we can make further inroads into the market,” added Quorum president/CEO Bernard Xavier.