Qualcomm to Acquire Mobile Banking Leader Firethorn

Qualcomm Incorporated , a leading developer and innovator of Code
Division Multiple Access (CDMA) and other advanced wireless
technologies, today announced it has agreed to acquire Atlanta-based
Firethorn Holdings, LLC, an industry-leading mobile banking enabler.
The addition of Firethorn's expertise in the financial industry and key
relationships with wireless operators, financial institutions and
payment processors supports Qualcomm's broader strategy to enable
end-to-end wireless services that enhance the mobile experience and to
deliver compelling applications that drive increased consumer adoption
of new mobile data services. Qualcomm will pay approximately $210
million in cash for Firethorn. Completion of the acquisition, which is
subject to certain closing conditions, is expected within 30 days.

Firethorn's employees will remain in Atlanta supporting its
existing financial institution and operator partners for mobile
commerce applications. The Firethorn team will continue to be led by
Firethorn's current CEO, Tripp Rackley, and will be overseen by Len
Lauer, executive vice president and group president of Qualcomm.
Firethorn's expertise in financial services and telecom, commercially
deployed platform and early market leadership in mobile banking
complement Qualcomm's expertise in enabling wireless services across
networks and devices. The acquisition is intended to help financial
institutions accelerate consumer adoption of mobile banking services,
such as viewing account balances and history, bill pay and money
transfers, while also driving the development and delivery of mobile
payments and mobile marketing services.

"The acquisition of Firethorn will allow Qualcomm to help drive the
evolution of mobile banking by leveraging Firethorn's industry
expertise, reputation and success in developing relationships with
financial institutions, wireless operators and payment processors,"
Lauer said. "The combination of Firethorn's mobile banking experience
and market recognition with Qualcomm's technology strength, global
reach and operator relationships make this an extremely powerful
development in the world of mCommerce. The acquisition solidifies
Qualcomm's commitment to the emerging mCommerce marketplace and builds
upon a foundation established by Qualcomm Enterprise Services, a
business unit focused on providing integrated wireless systems and
services to businesses around the world."

"Qualcomm is a recognized technology leader and this acquisition is
a strong endorsement of the strategic importance of mobile commerce,"
said Tripp Rackley, chairman and chief executive officer of Firethorn.
"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."

As a result of the acquisition, Qualcomm expects approximately
$0.02 dilution to pro forma earnings per share in its fiscal year
ending September 2008 and a neutral impact on fiscal year 2009 earnings
per share.

Founded in 2001, Firethorn is a mobile banking services enabler
that links financial institutions and wireless operators through a
unified, secure and scalable technology platform that seamlessly
extends full-service banking capabilities to consumers from many
financial institutions to many wireless devices. With Firethorn,
financial institutions and wireless operators gain a competitive
service differentiator that improves customer retention, generates
revenue and answers consumer demands for more product/service
convenience. In addition to major wireless operator partnerships,
Firethorn's financial institution partners include Wachovia, SunTrust
Bank, Regions Financial, BancorpSouth and Synovus, among others.

Qualcomm Incorporated (www.qualcomm.com) is a leader in developing
and delivering innovative digital wireless communications products and
services based on CDMA and other advanced technologies. Headquartered
in San Diego, Calif., Qualcomm is included in the S&P 500 Index and
is a 2007 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R)
under the ticker symbol QCOM.

Except for the historical information contained herein, this news
release contains forward-looking statements that are subject to risks,
uncertainties and assumptions. If such risks or uncertainties
materialize or such assumptions prove incorrect, the results of
Qualcomm could differ materially from those expressed or implied by
such forward-looking statements and assumptions. All statements other
than statements of historical fact are statements that could be deemed
forward-looking statements, including the expected benefits and costs
of the transaction; management plans relating to the transaction; the
expected timing of the completion of the transaction; the ability to
complete the transaction considering the various closing conditions,
including any conditions related to regulatory approvals; any
statements of the plans, strategies and objectives of management for
future operations, including the execution of integration plans; any
statements of expectation or belief; and any statements of assumptions
underlying any of the foregoing. Risks, uncertainties and assumptions
include the possibility that expected benefits may not materialize as
expected; that the transaction may not be timely completed, if at all;
that, prior to the completion of the transaction, Firethorn's business
may not perform as expected due to transaction-related uncertainty or
other factors; that the parties are unable to successfully implement
integration strategies; and other risks that are described from time to
time in Qualcomm's SEC reports, including the report on Form 10-K for
the year ended September 30, 2007, and most recent Form 10-Q.

Qualcomm is a registered trademark of Qualcomm Incorporated. All
other trademarks are the property of their respective owners.