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U.S. OKs Purchase of Flarion

January 17, 2006|From Bloomberg News

Qualcomm Inc., the world's second-largest maker of chips for cellphones, said the Justice Department had ended an antitrust review of its acquisition of wireless broadband technology firm Flarion Technologies Inc., clearing the deal.

The purchase should close in a few days, San Diego-based Qualcomm said Monday in a statement.

The department in September sought more information on the purchase. Qualcomm announced in August that it would buy the closely held Bedminster, N.J.-based company for $600 million in cash and stock to gain wireless technology used in new high-speed Internet services.

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