Qualcomm’s $120 million investment in Sharp has been officially completed today.
It was back in December that Qualcomm announced that it was looking to invest $120 million into Sharp in return for 3.5% ownership of the ailing company. Qualcomm did add $60 million to Sharp’s coffers when the deal was announced but decided to hold back the rest until Sharp met their conditions, including fabricating power-conserving screens.
Then in March, Sharp announced that it would not be able to meet all of the conditions set by Qualcomm, which in return meant that the remaining $60 million sat in Qualcomm’s accounts until Sharp got to the point where it could meet the terms agreed upon.
In a statement delivered by Sharp on Monday [You can read it here], Sharp confirmed that they had finally come to a deal with Qualcomm and with that, Qualcomm stumped up the remaining $60 million.
However, Qualcomm isn’t the only company investing heavily into Sharp. Back in March, Samsung said that Â it will be giving the company Â£111.3 million for a 3 percent stake in Sharp. Samsung said that its investment would help the companies build “mutual interest” in the LCD display business.
Last Updated on