The Wall Street Journal reported Friday that San Diego-based wireless giant Qualcomm has approached Intel about a possible takeover of the ailing chip maker.

Qualcomm recently approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation said, in what could be a transformational deal in the sector but faces many hurdles.

San Diego-based technology company recently made move to acquire computer processor and chip maker, according to the Wall Street Journal.