Wednesday, November 14, 2007

Qualcomm Buys Firethorn For $210M

San Diego-based Qualcomm said Wednesday that it is acquiring Firethorn Holdings, a provider of technology for the mobile banking industry. Qualcomm said the deal is worth $210M in cash, and is expected to close in the next 30 days. Atlanta-based Firethorn develops products used by wireless operators, financial institutions, and payment processors to provide banking through wireless devices. Qualcomm said that Firethorn's employees will remain in Atlanta, and will continue to be led by its CEO, Tripp Rackley. Firethorn was founded in 2001, and currently counts Wachovia, SunTrust Bank, Regions Financial, BancorpSouth and Synovus among its customers.