Gimbal, a tech business that was spun out of Qualcomm Inc. in 2014, has been sold to a Santa Monica business called The Mobile Majority. The deal was announced Dec. 5. Financial terms were not disclosed.

Gimbal makes technology allowing marketers to pinpoint a customer’s location indoors or out with the help of their smartphones and Bluetooth low-energy beacons.

A representative of the buyer said the business will stay in San Diego for the foreseeable future. Gimbal’s offices are in Sorrento Valley.

The Mobile Majority describes its business as a data monetization and mobile media execution solution.

Gimbal says its platform combines macro-location geofences and micro-location beacons with a cloud-based solution to build, manage and analyze location-first mobile experiences and data. Qualcomm started the business in 2010.