Iridigm Display Corp. acquired by Qualcomm (2004/9/10)

Taipei, Sep. 10, 2004 – QUALCOMM Incorporated (Nasdaq: QCOM), the world biggest fabless company, announced on Sep. 9, 2004 that it has signed a definitive agreement to acquire Iridigm Display Corporation, a display technology portfolio company of Prudence Venture Capital, which will become a wholly owned subsidiary of QUALCOMM upon completion of the transaction. QUALCOMM will pay approximately $170 million in cash for the approximate 86 percent of Iridigm that it does not already own. Prudence invested in Iridigm in 91/1 and has realized gain of 270%.