Qualcomm’s ex-chairman is trying to buy the company with help from investors at SoftBank

The former Qualcomm chairman Paul Jacobs, seen here with a chip, wants to acquire the company. David Becker/Stringer
  • Paul Jacobs, the recent chairman of the chipmaker Qualcomm, is looking to buy out the company, according to the Financial Times.
  • Early this week, President Donald Trump blocked Qualcomm’s acquisition by the Singapore-based Broadcom on the grounds of national security. Broadcom then withdrew its offer.
  • Jacobs has spoken with several global investors, including SoftBank, about acquiring the company.
  • SoftBank, a Japanese holding company, is ramping up its investments in Silicon Valley and already has major stakes in the companies Uber and WeWork.

A former chairman of Qualcomm is trying to buy out the company just days after President Donald Trump signed an executive order preventing it from being sold to a rival chipmaker.

Paul Jacobs, whose father founded the $US89 billion chip company in 1985, informed board members about his plan to buy the company, according to the Financial Times.

Jacobs has reached out to several global investors, including SoftBank, about supporting his bid, according to the report.

SoftBank, a Japanese holding company, has major stakes in several Silicon Valley companies including Uber, WeWork, SoFi, and Slack thanks to its $US100 billion mega fund specifically for investing in the industry. It also owns Arm, the British semiconductor company whose chip design is at the heart of most smartphones today.

Broadcom, the Singapore-based chip company that Trump, on grounds of national security, prevented from taking control of Qualcomm in a hostile takeover, officially pulled its $US117 billion bid for Qualcomm on Wednesday.

Qualcomm shares were up nearly 7% in after-hours trading on news of the latest potential deal.

Read more about what’s going on at Qualcomm here: