Former Chairman of Qualcomm May Buy Out Company

Paul Jacobs, who was once the CEO of Qualcomm as well as an ex-chairman, is reportedly planning to buy out Qualcom with other investors.

The Financial Times has reported that Jacobs, who is the son of the company’s co-founder Irwin Jacobs, is looking for funding to take Qualcomm private.

According to sources who spoke with the newspaper, Jacobs has already disclosed his plans to acquire the company to board members. One source has said that he even pitched his plan to several investors which include Softbank.

Jacobs resigned last week from his role as chairman of the company.

Disclaimer: We have no position in QUALCOMM, Inc. (NASDAQ: QCOM) and have not been compensated for this article.