Firethorn a hot acquisition for Qualcomm

Qualcomm Inc. will buy Atlanta mobile banking technology company Firethorn Holdings LLC for $210 million in cash.

San Diego-based wireless technologies developer Qualcomm (NASDAQ: QCOM) said the deal will likely close within 30 days. Firethorn Chairman and CEO Tripp Rackley will continue to lead the company in Atlanta and will be overseen by Len Lauer, executive vice president and group president of Qualcomm. Firethorn's employees will remain in Atlanta supporting its existing financial institution and operator partners for mobile commerce applications.

"Qualcomm is a recognized technology leader and this acquisition is a strong endorsement of the strategic importance of mobile commerce," Rackley said. "The team at Firethorn will now join this industry leader as we continue to evolve mobile commerce solutions and bring new and exciting functionality to the mobile handset, including expanded payment options."