Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has acquired certain assets from GestureTek, a developer of gesture recognition technology. A leader in the gesture recognition field, GestureTek has more than 25 years of experience implementing gesture-based technologies in mobile devices, entertainment facilities, healthcare systems, retail locations, and public and private venues. The acquisition gives Qualcomm ownership of certain intellectual property assets related to gesture recognition, as well as key engineering resources. GestureTek is retaining other assets in continuation of its gesture-controlled public display and digital signage business.
“Applications processors are enabling a range of new ways for consumers to interface with their home entertainment and mobile devices,” said Steve Mollenkopf, executive vice president and group president, Qualcomm. “Our acquisition of key technology and assets from GestureTek will strengthen Qualcomm’s smartphone product portfolio and enable our customers to launch products with new and compelling user experiences.”
Gesture recognition technology will be integrated into Qualcomm’s current and next-generation Snapdragon™ processors, giving OEMs the capability to produce smartphones, tablets and home entertainment devices with user interfaces based on natural human gestures.
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Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Qualcomm could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; any statements of the plans, strategies and objectives of management for future operations, including the execution of technology integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that Qualcomm is unable to successfully implement technology integration strategies; and other risks detailed from time to time in the Company’s SEC reports, including the report on Form 10-K for the year ended September 26, 2010, and most recent Form 10-Q.