Qualcomm to Take 7% Stake in New Silicon Image Qterics IoT Subsidiary

Qualcomm agreed to spend $7 million for 7 percent ownership of Qterics, the new Silicon Image subsidiary that will supply services and components and devices for Internet of Things-capable TVs, smartphones, tablets, routers, home automation devices and smart appliances, the companies said in a joint announcement Thursday. Qterics will be composed of Silicon Image’s UpdateLogic services business and other of its software and IP holdings, they said. "The vast expansion of Internet-enabled devices enables new applications and services, but only if the devices can be properly managed." UpdateLogic, now under the Qterics umbrella, has been a leading supplier of device management and remote access services already deployed in "tens of millions" of CE products, they said.