What's next for Paul Jacobs after leaving from Qualcomm?

Qualcomm

Jacobs, 55, was stripped of his executive chairman title last week as the company sought to fend off a $117 billion hostile takeover bid from Broadcom Ltd. Broadcom had its headquarters in Irvine, California, until a Singapore-based company bought it in 2015. Apparently, Jacobs was pretty vocal at the meeting and reiterated his wish to pursue a potential buyout after making the same proposition in a letter to the board on Tuesday. In the midst of some intracorporate shuffling to protect itself against a Broadcom takeover, Jacobs stepped down, though he remained on the board, and the board appointed a non-executive chairman to lead it.

Trump, in an order issued Monday (March 12), took the unprecedented step of prohibiting an acquisition on national security grounds prior to a deal being finalized.

Not renominating Mr Jacobs to Qualcomm's board opens a new chapter for the company, which the Jacobs family had made an institution in its hometown, San Diego.

President Sargsyan congratulates China's Xi Jinping on re-election
Xi to the state presidency, the least powerful of his several titles, and as chairman of a state military commission. Beijing-Xi Jinping was reappointed Saturday as China's president with no limit on the number of terms he can serve.

According to Financial Times, Jacobs "has informed members of the board about his place to launch a buyout", and has "approached" SoftBank, a Japanese conglomerate with myriad technology- and telecom-related holdings including a majority stake in USA carrier Sprint. Broadcom officially withdrew its offer on Wednesday. A buyout of Qualcomm, which has a market capitalization of $88.7 billion, would be one of the largest in history. SoftBank controls the $100 billion Vision Fund, its tech investment vehicle. (See: Qualcomm's Paul Jacobs may be fishing for funds to acquire firm). The company's shares rose 1.9 percent to $61.75 in extended trading Friday.

Association with any foreign fund or entity will invite criticism from the US administration because the Broadcom attempt was stopped citing national security interests.

The Broadcom-Qualcomm and Qualcomm-NXP situations highlight a larger consolidation trend that had been ongoing in the semiconductor business for several years as chip makers look to grow their capabilities and reduce the competition in the face of a range of emerging technologies, including the cloud, data analytics, the IoT, 5G, machine learning, artificial intelligence, virtual and augmented reality, and autonomous vehicles. His potential bid was earlier reported by The Financial Times.

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