[Qualcomm's former CEO is setting up a 5G company XCOM, plans to acquire Qualcomm] Paul Jacobs, former chief executive of Qualcomm, is creating a company that focuses on 5G wireless communications technology.
The start-up company's name is XCOM and will work to solve the problems facing 5G to achieve low latency and high reliability. Qualcomm's former president Derek Aberle and former chief technology officer Matthew Grob also joined the new company. According to the company’s website, Abbott will serve as the company's chief operating officer, Grob will serve as chief technology officer, and Jacob will serve as chief executive officer.
According to CNBC, Jacobs is still planning to privatize Qualcomm. He is working with Abbot to raise billions of dollars for the acquisition of Qualcomm.
According to an XCOM spokesperson, the company has not yet decided how many people to hire, and the management has not established the company's business model.
Aberleer told CNBC that the company may sell 5G technology patent licenses or provide software support to companies purchasing its semiconductor products.
Aberle said: "There is still a lot of work to do to prove the availability of 5G technology in IoT applications. I think our company has a lot of good ideas in this area."
He added that once the acquisition of Qualcomm's plan is successful, XCOM's technology will be used in Qualcomm's production of chips, and the startup company may also be incorporated into Qualcomm.
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