Bloomberg News
Paul Jacobs, the former Qualcomm Inc. chief executive who was ousted as chairman of the chip maker’s board earlier this year, is launching a new startup focused on developing advanced wireless technology even as he continues pursuing a plan to take his former company private.
Jacobs said Wednesday he was starting the company, called Xcom, along with two other former Qualcomm executives. Derek Aberle, formerly Qualcomm’s president, is leading Xcom’s operations, while former Qualcomm technology chief Matt Grob is heading the startup’s development efforts. Jacobs is its CEO.
Aberle said Xcom intends to make the next-generation wireless technology known as 5G more secure, reliable and responsive, among other priorities.
“We think the U.S. needs more investment in communications technology,” he said in an interview. “We think we’re well positioned to do it.”
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