Qualcomm to buy small maker of chip design tools

SAN DIEGO — Qualcomm Inc. said on Friday that it has agreed to buy Rapid Bridge LLC, a San Diego-based company that makes tools for chip design. It did not disclose the price.

Qualcomm said Rapid Bridge's San Diego design team and engineering services operations in San Diego and Bangalore, India, will be integrated into its chip-making division.

The deal is expected to close by Sept. 25, the end of Qualcomm's fiscal year.

San Diego-based Qualcomm is a leading maker of chips for cellphones and developer of wireless technology.

Its shares fell 64 cents, or 1.2 percent, to $55.23 in morning trading.