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Hope for the future drove Qualcomm Inc.’s recent acquisition of Flarion Technologies, with lawyers designing a strategy that helped ensure the success of the deal without breaking regulations. Qualcomm, a wireless technology developer, announced Aug. 12 it would buy Flarion, a leading developer of technology for mobile broadband Internet protocol services, for approximately $600 million in Qualcomm stock and cash. “One unusual thing is that there were some significant notice requirements that had to be satisfied before the transaction could be completed,” said Diane Holt Frankle, a partner in DLA Piper Rudnick Gray Cary’s Silicon Valley office, who helped represent Qualcomm. “We had to work out the timing for those notice requirements and still be sure we had a binding agreement.” Qualcomm will also pay Flarion an additional $205 million if certain undisclosed milestones are achieved within the next eight years. “This is a great example of strategic investment — similar to what was seen pre-Sept. 11 — because of the value of the technology,” Frankle said. Intellectual property rights were central to determining the value of the deal and led to interesting discussions among DLA Piper lawyers, added Frankle. For these two companies, the acquisition is expected to open opportunities for better technology. Qualcomm’s DLA Piper team was led by partners Cameron Rains, Douglas Rein and David Young and associates Randy Socol and Matthew Leivo in the firm’s San Diego office. Flarion was represented by Howard Armstrong, a partner at Latham & Watkins in San Diego.

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