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Qualcomm Inc will invest as much as $120 million in Sharp Corp, a cash injection likely to make it the struggling Japanese TV maker's biggest shareholder, and to boost Sharp's efforts to remain viable.
As part of the agreement Qualcomm, through its Pixtronix subsidiary, will work with Sharp - which supplies screens to Apple Inc for its latest iPhone - to develop new power-saving screens based on Sharp's IGZO technology, Sharp said.
The two firms will also consider collaborating in the fabrication of chipsets.
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Greg Regelbrugge, vice president national accounts, Western U.S., is leaving that post today to become president and CEO of Vann's.
Holding company McMagic Partners LP, part of the Khaledi Group, closed a $4.5 million dollar deal on the bankrupt consumer electronics and appliance dealer Tuesday. The Texas-based Khaledi Group manages dozens of companies, including the HK Global Duty Free chain of electronics stores.
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