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Both IQE and QinetiQ will provide staff and equipment, but the joint venture's services will be marketed through IQE. Initially, the company will be based at QinetiQ's facility in Malvern.

The move came just a few weeks after Qualcomm escaped a hostile takeover bid from Broadcom, which would have made similar cuts. Surprisingly, management also ousted its chairman and former chief executive, Paul Jacobs, Irwin’s son.

Given all the drama, Irwin had every reason to spew invective in an interview at the Imec Tech Forum, where he received a lifetime achievement award. But deep into retirement, Jacobs is as upbeat and energetic as ever.

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You have to pull back and let people run things,” he told me. But that said, he was not without opinions.

I was very unhappy that [Centriq] was discontinued. I would hope that it gets picked up by others. Maybe a company involving Paul and/or Sanjay [Jha, a former Qualcomm vice president recently ousted as CEO of GlobalFoundries] or others that have left will join in that kind of effort,” said Jacobs, responding to online calls for them to rescue the group.

Meanwhile, Paul is looking to taking the company private. That’s a very difficult undertaking given the company’s size, but he’s pursuing it.”

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But the elder Jacobs expressed no opinion on the effort, something that Michael Dell did with his company when it was seeking help. My advice always is to be in a position where you can come up with new ideas and products and earn money,” he said.

Ironically, right after making billion-dollar cost cuts to appease investors, the prospects for Qualcomm’s proposed merger with NXP seem brighter. Observers say that China’s approval of the deal could come in turn for President Trump’s giving comms giant ZTE a reprieve from a fatal FTC judgement.

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I can’t predict how this will work out. It’s looking more favorable for the NXP deal now, but that could change tomorrow,” said Jacobs, recounting stories of a nearly 10-year battle to get China to license Qualcomm’s CDMA technology in the 1990s.

Jacobs expressed no anguish that the deal would change the character of the company he founded.

AEA Technology has agreed to sell its Nuclear Consulting business to contract management group Serco for £69.8m in cash.

The disposal is part of a plan by the diversified technology group to focus on its rail and environmental businesses.

AEA has been distancing itself for a while from its nuclear businesses, having already agreed a sale for Nuclear Engineering.

The Consulting business, which has a turnover of £41.9m and is profitable, provides safety and risk management services to customers including BNFL and the MoD.

The proceeds of the disposal will be used to reduce debt, pay costs associated with the restructuring and return a significant” sum to shareholders as well as retain funds for reinvestment in the business. AEA is also retaining trade debtors worth £6m, bringing total proceeds up to £75.8m.

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In contrast to other pioneering PVR companies like Tivo, whose hardware and software technologies are strictly tied to its own proprietary services, CacheVision hopes to offer open, standards-based PVR solutions” to consumer electronics OEMs and service operators, said Richard Johnson, president and chief executive officer at CacheVision.

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