Qualcomm, TDK Launch $3 Billion Joint Venture

San Diego-based Qualcomm and Tokyo-based TDK Corporation said very late last night that the two companies are forming a new, joint venture--RF360 Holdings Singapore PTE. Ltd.--to focus on development of RF front end modules and RF filters. The two said the joint venture will use technology from TDK in the area of micro-acoustic RF filtering, packaging and module integration, combined with Qualcomm's advanced wireless technologies, to develper RF front end modules targeted at the Internet-of-Things, drone, robotics, automotive, and other markets. The new company, RF360 Holdings, will be 51 percent owned by Qualcomm, and 49 percent owned by a subsidiary of TDK, EPCOS AG. The two said the aggregate transaction value is approximately $3 billion US dollars, and that TDK will transfer part of its TDK SAW Business Group--with a run rate of nearly $1 billion dollars and 4,200 employees.