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Sources are telling Insider Louisville that wireless communications and processor giant Qualcomm has acquired Louisville-based Stonestreet One, which develops Bluetooth technology.

Stonestreet One’s webpage states the company is now part of Qualcomm, but there are no Securities and Exchange Commission filings confirming the deal. Neither Stonestreet One executives nor Qualcomm media relations personnel returned calls for comment.

If the deal is complete, it would be a ringing national endorsement for Louisville’s tech sector.

Stonestreet One’s core product is Bluetopia, which uses Bluetooth short-range, short-wavelength radio signals to connect devices such as headsets, automotive communications systems, phones, computers and a range of consumer products.

Customers include: Motorola, Garmin, Kodak, and Honeywell among others. Bluetopia + LE is the latest version of the software that runs specifically for Bluetooth low-energy technology, according to Wikipedia.

This is likely a big exit for local venture capitalist Bob Saunders, who became Stonestreet One’s chairman in 2009 after a major investment, according to Business First. Saunders’ career includes stints at Chrysalis Ventures in Louisville and Bain Capital in Boston.

Mayor Greg Fischer also is an investor, and sits on the Stonestreet One board of directors.

Screen Shot 2014-09-16 at 12.51.44 PMStonestreet One has made multiple lists of fast-growing and innovative companies since its founding in 1999 by President Tim Reilly.

Most recently, Inc. Magazine ranked Stonestreet One No. 2675 on its Inc. 5000 list of the United States’ fastest-growing companies.

According to Inc., Stonestreet One had $3.1 million in revenue for 2013, up from $1.3 million in 2010. The firm has 28 employees, according to the Inc. 5000 list data.

By comparison, Qualcomm is a mega-tech competitor, which has made a series of recent acquisitions including of Netherlands-based Euvision Technologies, which creates image recognition applications powered by artificial intelligence.

Qualcomm competes with other tech giants in the chip business including Intel.

Earlier this month, Qualcomm (which may be most famous for Qualcomm Stadium it its HQ city of San Diego) introduced new 4G processors for Android phones and slate devices. Qualcomm trades on the NASDAQ exchange under the symbol “QCOM.”

For 2013, Qualcomm reported about $25 billion in total revenue.

Terry Boyd has seven years experience as a business/finance journalist, and eight years a military reporter with European Stars and Stripes. As a banking and finance reporter at Business First, Boyd dealt directly with the most influential executives and financiers in Louisville.


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