Friday, February 21, 2014

MagnaCom Gets Investment From Qualcomm's Altman

MagnaCom Ltd., an Israeli company which has its U.S. operations in Laguna Niguel, said this week that it has added former Qualcomm President and Vice Chairman Steve Altman to the company as an advisor. As part of that move, MagnaCom said that Altman has acquired a "meaningful holding" in MagnaCom. Financial details of that investment were not disclosed. MagnaCom's is angel funded, and is led by Yossi Cohen, the former Senior Vice President and General Manager of Motorola Mobility. He also had been an SVP and GM at Broadcom during and after its IPO.