Qualcomm Inc is spinning off its location awareness technology, which is compatible with Apple Incs iBeacon version, to a group of investors including music, sports and arena conglomerate AEG. The chipmaker said on Wednesday it sold the business as a newly formed entity called Gimbal Inc. One investor is the i-Hatch LBS Fund, which includes strategic investors Zebra Technologies Corporation and AEG. Qualcomm will remain a minority investor. A Qualcomm spokesperson declined to disclose financial details.
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