SD BizTech Roundup: Qualcomm, Razer, Avalon’s Zynga Windfall, & More
Been on vacation? Get back up to speed with our end-of-the-holidays roundup of San Diego tech news.
—Almost half of the top 50 venture-backed startups had at least one founder who was an immigrant, according to a study from the National Foundation for American Policy. Such findings led author Stuart Anderson, who also is executive director of the Virginia-based foundation, to conclude, “America gains a great deal when we’re open to talent, wherever that talent was born.”
—The FCC approved Qualcomm’s sale of some spectrum rights to AT&T for nearly $1.93 billion. Qualcomm (NASDAQ: QCOM) had spent $683 million acquiring the lower 700-megahertz band and UHF Channels 55 and 56 for its FLO-TV network for transmitting television programming to mobile devices. As we recently reported, Toronto’s QuickPlay Media acquired the network operation center that Qualcomm built in San Diego for its FLO-TV operations. Qualcomm said the FCC approved the spectrum sale after AT&T abandoned its proposed $39 billion acquisition of T-Mobile. AT&T plans to use the additional spectrum to improve its network capacity as it rolls out its 4G wireless network.
—In a separate announcement, Qualcomm disclosed that founding CEO Irwin Jacobs plans to retire from the company board at its annual meeting on March 6. The 78-year-old Jacobs will officially become Qualcomm’s founding chairman and CEO emeritus.
—Razer, the Carlsbad, CA-based maker of computer and video gaming peripherals, said it is raising $50 million in a Series A venture round led by the IDG-Accel China Capital Fund, a global investment fund established by IDG and Accel Partners. The 12-year-old startup’s funding previously came from … Next Page »