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Qualcomm Atheros is a developer of semiconductors for network communications, particularly wireless chipsets. Founded under the name T-Span Systems in 1998 by experts in signal processing and VLSI design from Stanford University, the University of California, Berkeley and private industry. The company was renamed Atheros Communications in 2000 and it completed an initial public offering in February 2004 trading on NASDAQ under the symbol ATHR. On January 5, 2011, it was announced that Qualcomm had agreed to a takeover of the company for a valuation of US$3.7 billion. When the acquisition was completed on May 24, 2011, Atheros became a subsidiary of Qualcomm operating under the name Qualcomm Atheros. Qualcomm Atheros chipsets for the IEEE 802.11 standard of wireless networking are used by over 30 different wireless device manufacturers.