Qualcomm to acquire Israeli auto-chip maker Autotalks2023-05-08 18:41 by Daniela
Tags: Qualcomm, Autotalks
Chip designer Qualcomm Inc said on Monday it would buy Israel's Autotalks Ltd that makes chips used in technology aimed at preventing vehicle crashes, as the U.S. firm looks to deepen its automotive business.
Autotalks' tech is used in sensors that help vehicles (which can be bikes, cars or another form of mobility) and their drivers detect road hazards such as oncoming vehicles in a driver's blind spots; it also communicates with other vehicles using compatible tech to improve responsiveness. Qualcomm said the plan will be to integrate Autotalks' V2X (vehicle-to-everything) communication tech into its mobility-focused Snapdragon Digital Chassis portfolio.
Qualcomm expects the automotive industry to be one of its biggest sources of growth and revenue over the coming years. At CES last year, it unveiled the Snapdragon Ride Vision platform, which is an "open, scalable and modular" tech automakers can use to build cars. And in late 2022, it said its automotive business pipeline, or its revenue-generating opportunities, had jumped to $30 billion from the $10 billion it announced during its previous earnings report.
The company also said back then that it estimates its automotive business revenue to hit $4 billion by fiscal year 2026. It credited the Snapdragon Digital Chassis for the expansion of its future business opportunities, and Autotalks' acquisition could grow its customer base and client offerings even further.
The financial terms of the acquisition are not being disclosed, but a source close to the deal said that it's a $350-$400 million deal.
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