TOKYO -- U.S. mobile chip designer Qualcomm has acquired Japanese partner TDK's stake in a joint venture that makes parts for telecommunications equipment, looking to bolster its lineup of products for 5G smartphones.
The company bought TDK's 49% interest in RF360 Holdings Singapore, valued at $1.15 billion, according to an announcement this week. The purchase price totals about $3.1 billion when other payments are included.
Established in February 2017, the venture handles frequency filters for fourth- and fifth-generation wireless equipment.
Qualcomm said the acquisition will let it offer a "complete end-to-end solution" for such 5G devices as smartphones.
In 2008, TDK bought Epcos, a German producer of electronic components for mobile phones and industrial equipment. Epcos and Qualcomm established the venture after an acquisition proposal by the U.S. chip company.
TDK has since focused its own resources on technology for "internet of things" connected devices and next-generation autos, buying such companies as American sensor maker InvenSense.