Actionable news
0
All posts from Actionable news
Actionable news in BABA: ALIBABA GROUP HOLDING LIMITED,

QUALCOMM (QCOM) Stock Lower After Selling Vuforia Business for $65 Million

NEW YORK (TheStreet) -- QUALCOMM (QCOM - Get Report) shares are down 0.23% to $57.65 on Monday after the semiconductor company said that its subsidiary, Qualcomm Connected Experiences, has agreed to sell its Vuforia business to Internet of Things software maker PTC (PTC).

The value of the deal is $65 million, according to business technology news site ZDnet.

Vuforia is a mobile vision platform for augmented reality, which superimposes a computer-generated image on a user's view of the real world.

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.

"We share PTC's vision for a connected world and look forward to seeing the Vuforia mobile platform continuing to flourish under PTC's leadership," said Derek Aberle, president of QUALCOMM. "QUALCOMM will continue to drive computer vision technology that will unlock a wide variety of applications for consumers and businesses around the world."

The transaction is expected to be completed at the end of this year, the company said.

Based in San Diego, QUALCOMM designs, develops, manufactures, and...


More