Qualcomm finally completes $120M investment in Sharp

The company had previously given Sharp $60 million, but due to certain conditions not being met, held on to the balance until now.

Qualcomm's $120 million investment in Sharp has officially been completed.

Back in December, Qualcomm announced that it would invest $120 million in the ailing Sharp in return for about 3.5 percent ownership. Qualcomm dropped $60 million into Sharp when the deal was announced, but decided to keep the balance until Sharp met several conditions, including the fabrication of power-conserving screens.

In March, Sharp announced that it wouldn't meet all of the conditions , prompting Qualcomm to withhold its remaining $60 million investment until the company could get to where it needed to be.

In a statement (PDF) on Monday, Sharp confirmed that it has finally come to a deal with Qualcomm and that Qualcomm has offered up another $60 million to make good on their deal.

Qualcomm isn't the only company investing in Sharp. Back in March, Samsung said it would give the company $111.3 million for a 3 percent stake in Sharp. Samsung said the investment would help the companies build "mutual trust" in the LCD display business.

About the author

Don Reisinger is a technology columnist who has covered everything from HDTVs to computers to Flowbee Haircut Systems. Besides his work with CNET, Don's work has been featured in a variety of other publications including PC World and a host of Ziff-Davis publications.

 

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