No, not really. unlike the mobile app processor space the wireless technology updates/upgrades at a much faster rate so it makes much sense for standalone companies innovating in this area to bring the latest standards into practice.
It seems that the way to go forward is having tight integration with the mobile apps processor and the baseband chip. Which is why Intel snatched Infineon LTE, NVidia got Icera and Qualcomm got the integrated baseband. Altair's best option in the long run, will be to get acquired by one of those mobile CPU vendors.