Qualcomm Inc. said June 10 it agreed to acquire substantially all the assets of Rapid Bridge LLC, a San Diego-based inventor of advanced techniques for designing and making semiconductor products. Terms of the transaction weren’t disclosed.

Rapid Bridge’s technology reduces complexity in integrated circuit development, according to a press statement.

The firm’s local design team and its San Diego/India engineering services operation will be integrated into Qualcomm’s CDMA Technologies unit. The acquisition is expected to close by the end of September, Qualcomm said.

— Mike Allen