Qualcomm Announces Indian Venture Foray; Invests In Tessolve Services
By Cerius Shah - Tue 15 Apr 2008 08:44 PM PST
Qualcomm (NSDQ: QCOM) has announced its investment foray in India through its venture arm, Qualcomm Ventures. Its first equity investment has been Tessolve Services, a provider of solutions for semiconductor testing, packaging and failure analysis. No word yet on the size of the investment.
According to the release, the Venture will focus on Indian startups and private companies in the mobile and semiconductor space. Qualcomm’s Mobile TV technology, MediaFLO, hasn’t been having a good year. The EU has made DVB-H the de facto standard. Qualcomm itself has expressed concerns over the growth of MediaFLO in the States, citing lack of operator support, although its more likely to be high handset and plan prices. A long time ago they were eying a 2010 Mobile TV launch in India. It had recently made key appointments of an Executive Vice President India (Peggy Johnson) and Dr Sandeep Sibal as VP and country manager of technology for Qualcomm India and South Asia.
Posted in: Mobile TV
