Qualcomm Sells Omnitracs to Vista Equity Partners and 2 More Heavily Traded Stocks to Follow
Qualcomm Inc. (NASDAQ:QCOM): Current price $67.07
Qualcomm said Monday that it will sell its subsidiary Omnitracs Inc. to the private equity firm Vista Equity Partners, which will pay $800 million in cash for the purchase. The transaction should close by the fourth quarter, which is the first quarter of Qualcomm’s fiscal 2014, subject to usual regulatory approval. Omnitracs makes chips and accessories to supply data and other systems for the transportation and logistics business.