It appears that the rumors floating around as far back as April of this year were true: DesignArt Networks, which designs solutions for mobile 3G/4G wireless backhaul infrastructure, is indeed being purchased for a price somewhere above $100 million.

Back in April, both Intel (News - Alert) and Qualcomm were said to be in the running to purchase the Israeli start up and according to an unofficial statement, Qualcomm is doing the acquiring. An official announcement is expected soon and comes after "protracted negotiations." It is believed that Qualcomm will be spending somewhere between $120-140 million for DesignArt (News - Alert), a number right in the range of the start up's goal of $100-150 million.

DesignArt was founded in 2006 by CEO Oz Barak, CTO Assaf Touboul and Avishay Mor. The company has received $30 million in investments from Carmel Ventures, Magma Venture Partners and Motorola Solutions Venture Capital. The company also received a loan from the Plenus Venture Lending Fund.

As it focuses on data-centric mobile radio access network (RAN) with highly integrated system-on-chip (SoC) platforms and trial-ready embedded SW solutions for wireless backhaul infrastructure, DesignArt is a valuable acquisition for Qualcomm (News - Alert), a mobile chip maker. It is expected that DesignArt will be incorporated as part of the Qualcomm Atheros Division, which is itself based on the acquisition of Atheros for $3.1 billion in 2011.

In 2010, Qualcomm acquired another Israeli company, iSkoot, for $50-100 million.

This month, Qualcomm Incorporated was recognized by Frost & Sullivan as the best supplier of advanced telematics services with the 2012 U.S. Fleet Manager's Choice Award. The company was ranked as the number one telematics supplier by 75 percent of fleet managers surveyed by Frost & Sullivan (News - Alert), while 93 percent of the chip maker's users ranked it as the best supplier for value. Overall, Qualcomm earned the highest weighted mean score in the telematics market segment.

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