Chapter 73 (1/2)
There was solemnity on the board of directors of Qualcomm.
Owen Jacobs said with a calm face: ”Cisco has given us an ultimatum. We must give them a reply in three days! In addition, Qualcomm has been in a very bad situation recently, and it is said that at & & & T is cooperating with other telecom companies to block us! ”
At the end of the speech, everyone looked at each other and talked about it one after another.
”We've just been sued for infringement of rights, and now at & & T is going to block us again?”
”Yes, what should I do?”
Owen Jacobs glanced at the crowd, stood up and said, ”I suggest joining Cisco as soon as possible, and then promoting our technology!”
”Jacob, what will Cisco offer us?” One of them asked.
Jacob shook his head and said, ”we haven't talked about the details yet, but they promise to maintain the independence of the company after the acquisition of Qualcomm, and the treatment of the company is the same as that of Cisco, enjoying the option award!”
”So far, we have to join Cisco. I agree to join Cisco! ” One shareholder said.
”I agree, too!”
“……”
Owen Jacobs looked at the number of votes, and most of them agreed to merge Qualcomm into Cisco, so he said, ”OK, we'll have a formal negotiation with Cisco right away.”
After the meeting, Owen Jacobs immediately called John Chambers and told him that Qualcomm agreed to merge into Cisco, but the specific conditions still need to be discussed in detail!
John Chambers acted quickly, immediately organized a negotiation team, and the next day he went to meet with Qualcomm.
”Mr. Jacobs, this is our Cisco offer to you!” After John Chambers and his party arrived at the company, they handed the printed documents to Owen Jacobs and other senior executives, and said, ”Cisco has invested $100 million in financing the company, holding 70% of the shares. In fact, in today's situation, Qualcomm is not worth 100 million at all, but we are optimistic about its future development, so we are willing to give so much! If you think there is no problem, we can sign the contract immediately! ”
Owen Jacobs and others are very shocked by Cisco's offer. If CDMA technology is promoted, Cisco will offer this price, and Qualcomm and others are no exception. But now, it's obvious that there are many difficulties for Qualcomm, and it's really moving that Cisco didn't take advantage of the situation and deliberately lower its valuation!
Owen Jacobs and others did not speak and looked at each other. Before the formal meeting, they had guessed what conditions Cisco would offer to Qualcomm. They believed that the best condition might be to win the controlling stake of Qualcomm with us $50 million. However, Cisco directly offered us $100 million, which shocked everyone!
”Mr. chambers, please allow us to discuss before we make a decision?” Said Owen Jacobs.
John Chambers laughed. ”Of course, we'll wait for your news outside.” With that, the Cisco team stood up and walked out of the conference room.
After the Cisco team left the room, Owen Jacobs said, ”what do you think of the conditions?”
”I think it's very good, but they want 70% of the shares, which is a bit too much!” One of them said.
”I think it's acceptable. If Qualcomm has 100 million dollars, we can develop more advanced technology, and even design our own chips!”
There was a lot of discussion in the conference room.