Qualcomm Buys Airgo Networks

Qualcomm Inc. (Nasdaq: QCOM) has agreed to acquire Airgo Networks Inc., a Palo Alto, Calif.-based WLAN technology provider. No financial terms were disclosed. Airgo had raised around $144 million in total VC funding since its 2001 inception, including a tranched-out $55 million Series E deal at a post-money valuation of around $287 million. Backers include Accel Partners, BlueRun Ventures, OVP Venture Partners, Oak Investment Partners and Sevin Rosen Funds. In related Qualcomm news, the company also will acquire the majority of RF Micro Devices’ Bluetooth assets. www.qualcomm.com www.airgonetworks.com