Qualcomm (NASDAQ:QCOM) is set to acquire Israeli chipmaker DesignArt Networks for $120M-$140M,...

Qualcomm (NASDAQ:QCOM) is set to acquire Israeli chipmaker DesignArt Networks for $120M-$140M, Globes reports. DesignArt develops processors for 3G/4G base stations and mobile backhaul gear, and is a leader in the growing market for small base station chips. The purchase should help Qualcomm, which already has a sizable base station processor business, compete with rivals such as Cavium (CAVM), Texas Instruments (NYSE:TXN), and Broadcom's (BRCM) NetLogic division.