In a strange turn of events the former Executive Chairman of Qualcomm, Paul Jacobs, is now attempting to purchase Qualcomm. This information comes from a new report out of the Financial Times, which in turn credits “three people with direct knowledge about the matter” for the details.
According to those sources, Jacobs - who was only ousted from the Executive Chairman position last week - is actively pursuing a purchase of Qualcomm and is currently in the process of reaching out to secure funding from a range of possible investors. One of which is said to be SoftBank, based on the information from one of the unnamed sources. Though, it remains to be seen whether any investment from SoftBank could represent a conflict of interest, considering Qualcomm is actually an investor in SoftBank’s Vision Fund - the likely candidate from where an investment from SoftBank would originate from. In either case, it seems Jacobs is confident the buyout in general will take place as the report explains how Qualcomm’s ex-Chairman has already made clear to Qualcomm’s board of directors the intention to buy.
This latest news follows what was perceived to be a purchase stay from President Donald Trump just a matter of days ago. The Presidential order which cited national security concerns effectively put to rest months of speculation on whether Qualcomm would fold under the pressure of what had clearly became a hostile takeover attempt by Broadcom. Within hours of the order forbidding Broadcom from continuing its pursuit of the San Diego-based chipmaker, Broadcom conceded and announced it was moving on and hoped to continue with other merger and acquisition opportunities, drawing an end to the saga. Though now it looks like Qualcomm will once again have to make a decision as to whether it wants to continue as it is and fend off another purchase attempt, or this time consider the proposal from a source resonating from much closer to home. As was the case when Broadcom was seen as the prospective suitor, if a deal to purchase Qualcomm goes ahead, it is expected to represent one of the largest tech deals in history.