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Qualcomm buys remaining interest in RF360 Holdings

Qualcomm Inc. completed the acquisition of the remaining interest in RF360 Holdings Singapore Pte. Ltd., its joint venture with Japan-based equipment maker TDK Corp.

The joint venture was arranged between Qualcomm's indirect, wholly owned subsidiary, Qualcomm Global Trading Pte. Ltd., and other Qualcomm affiliates, including Qualcomm Technologies Inc., and TDK and other TDK affiliates.

The remaining interest of TDK's subsidiary, TDK Electronics Corp., in the joint venture was valued at $1.15 billion in August 2019. The total purchase price, including the initial investment, payments to TDK based on sales by the joint venture, and development obligations, will be about $3.1 billion, according to a Sept. 16 company release.